Gupta Sued Over Rajaratnam's Goldman Trades

Jun 7 2011 | 1:30pm ET

A former McKinsey & Co. chief and alleged Raj Rajaratnam tipster has been sued by a Goldman Sachs shareholder.

James Mercer's lawsuit seeks to recover "short-swing" profits Galleon Group founder Rajaratnam made trading Goldman shares. Rajaratnam was convicted last month of insider-trading, including in Goldman shares based on information he allegedly received from Gupta.

Gupta served on Goldman's board of directors. Prosecutors in the Galleon case presented evidence that he passed information about Berkshire Hathaway's planned investment in Goldman.

Gupta is also the subject of a pending Securities and Exchange Commission administrative action.

Mercer's "lawsuit is completely without merit, and we will vigorously defend against it," Gupta's lawyer, Gary Naftalis, said.


In Depth

Q&A: Executive Recruiter Talks Hedge Fund Closures, Hiring Trends

Dec 19 2014 | 6:58am ET

This year, hedge funds have been closing at a rate not seen since the financial...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.