Just when you think you've heard the last of the Rajaratnam Affair, a civil action against a former Goldman Sachs Group Inc. director who allegedly gave Galleon hedge fund founder Raj Rajaratnam inside tips about the investment bank has been “postponed indefinitely,” according to an SEC notice The Wall Street Journal saw.
The civil administrative action against former Goldman board member Rajat Gupta is one of a handful of known remaining cases stemming from the massive insider trading investigation involving the Galleon Group.
The SEC filed its administrative action against Mr. Gupta in March, shortly before Mr. Rajaratnam’s criminal insider-trading trial was slated to begin. Mr. Rajaratnam, who was found guilty of insider-trading charges in May, is expected to appeal the verdict…..
Find out more at http://blogs.wsj.com/law/2011/06/29/sec-civil-action-against-ex-goldman-director-postponed-indefinitely/
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