{"id":320617,"date":"2011-03-18T18:55:42","date_gmt":"2011-03-18T18:55:42","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/18\/former-goldman-director-sues-sec\/"},"modified":"2011-03-18T18:55:42","modified_gmt":"2011-03-18T18:55:42","slug":"former-goldman-director-sues-sec","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/18\/former-goldman-director-sues-sec\/","title":{"rendered":"Former Goldman director sues SEC"},"content":{"rendered":"<p><div readability=\"46.4365971108\">\n        \t\t  <span><br \/>\n    <span>18 March 2011<\/span><br \/>\n<span>Last updated at <\/span><span>14:55 ET<\/span><br \/>\n<\/span><\/p>\n<p>Former Goldman Sachs director Rajat Gupta has sued the US Securities and Exchange Commission (SEC).<\/p>\n<p>In a civil law suit, the SEC had accused Mr Gupta of revealing corporate information to hedge fund manager Raj Rajaratnam.<\/p>\n<p>Court papers said Mr Gupta &#8220;stands ready to mount a defence against each and every one of the commission&#8217;s charges&#8221;.<\/p>\n<p>Mr Gupta felt he had not been granted his &#8220;statutory and due process rights&#8221;.<\/p>\n<p>Attorney Gary Naftalis said in the court papers that the SEC had launched a &#8220;flawed case premised in large part on unreliable evidence being used in an attempt to bring down a man of sterling reputation and remarkable achievements without the procedural safeguards historically accorded to all persons similarly charged&#8221;.<\/p>\n<p>A civil lawsuit deprived him of his right to a judge and jury, he argued.<\/p>\n<p>Mr Rajaratnam, founder of the Galleon hedge fund, is accused of insider trading.<\/p>\n<p>Both men deny any wrongdoing.<\/p>\n<\/p><\/div>\n<\/p>\n<p>Read this article:<br \/>\n<a target=\"_blank\" href=\"http:\/\/www.bbc.co.uk\/go\/rss\/int\/news\/-\/news\/business-12792619\" title=\"Former Goldman director sues SEC\" rel=\"noopener noreferrer\">Former Goldman director sues SEC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> 18 March 2011 Last updated at 14:55 ET Former Goldman Sachs director Rajat Gupta has sued the US Securities and Exchange Commission (SEC). <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-320617","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - 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