Saturday, 23 August 2014
Last updated 14 hours ago
Jul 7 2011 | 10:26am ET
The indefinite delay in the Securities and Exchange Commission's case against Rajat Gupta may not be good news for the former McKinsey & Co. chief, after all.
The regulator agreed to put its civil case against the alleged Raj Rajaratnam tipster on hold after prosecutors sought a delay. The Justice Department on June 15 moved "to intervene and stay the administrative proceedings," Reuters reports, winning an administrative law judge's assent to the postponement five days later.
Justice's court filings do not indicate why prosecutors sought the stay, but it could indicate that they are building a criminal case against Gupta, accused of passing confidential information about Goldman Sachs to the Galleon Group chief, who was convicted of insider-trading in May. Gupta sat on the bank's board of directors.
Gupta has not been charged with any criminal wrongdoing, although prosecutors have identified him as an unindicted co-conspirator in the Galleon case. Gupta has denied any wrongdoing.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note