The April trial of Rajat Gupta, the former Goldman Sachs Group Inc. director accused of giving inside information to fund manager Raj Rajaratnam, was delayed six weeks so his lawyers could prepare a defense on new charges Gupta passed tips about earnings of Goldman Sachs in 2007 and Procter & Gamble Co. in 2009.
In a hearing in Manhattan federal court today, Gupta, 63, pleaded not guilty to criminal counts in a superseding indictment filed last week. The latest charges broaden the prosecutors’ description of the insider-trading scheme, saying it began in March 2007, not in 2008, as the U.S. alleged when Gupta was charged in October.
U.S. District Judge Jed Rakoff moved the trial to May 21 from April 9 after Gary Naftalis, an attorney for Gupta, asked for a delay.
“No further adjournments will be permitted, barring an act of God,” Rakoff said at the hearing.
Read all about it at http://www.bloomberg.com/news/2012-02-07/ex-goldman-sachs-director-gupta-s-trial-set-for-may-after-new-arraignment.html
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