Saturday, 30 August 2014
Last updated 1 day ago
Feb 26 2013 | 2:27pm ET
Facing two years in prison, former McKinsey & Co. chief Rajat Gupta now also faces a big legal bill: Goldman Sachs'.
A federal judge this week ordered Gupta to pay the bank $6.2 million, reimbursing it for its most of its legal expenses related to his insider-trading case. Gupta was a board member at Goldman and was convicted of passing confidential information about the bank to Galleon Group founder Raj Rajaratnam.
Goldman had sought almost $6.9 million. U.S. District Judge Jed Rakoff, who sentenced Gupta to two years in jail, shaved off some of that total when "the number of attorneys staffed on a task… exceeded what was reasonably necessary." But he said that Gupta offered no "colorable challenges" to their "veracity."
Gupta remains free on bail while he appeals his conviction.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...