New York, The criminal trial of Rajat Gupta, a former board member of Goldman Sachs and Procter & Gamble Co., has been moved from April to May after his lawyer grumbled that prosecutors want to keep changing the charges. Gupta will now go to trial on May 21 on an indictment returned last week. He is accused of feeding inside information from board meetings to one-time billionaire Raj Rajaratnam, the...
02:29 PM, Feb 08, 2012
San Francisco: Facebook plans to file documents as early as Wednesday for a highly anticipated IPO that will value the world's largest social network at between $75 billion and $100 billion, the Wall Street Journal cited unidentified sources as saying on Friday. Morgan Stanley is a strong front-runner to be the lead underwriter on what would be one of the largest initial public offerings in US history, the Journal cited...
10:05 AM, Jan 28, 2012
New York: A US judge has asked prosecutors to provide specific financial benefits they allege former Goldman Sachs director Rajat Gupta made by passing inside information to his friend Raj Rajaratnam amidst allegations that he also tipped him about Proctor and Gamble's 2008 sale of Folgers Coffee Co to JM Smucker. The judge's direction came after Gupta's lawyers claimed he made no profits and called the government's allegations "mumbo jumbo"....
10:46 AM, Jan 06, 2012
New York: Financial services giants Goldman Sachs and Morgan Stanley are said to be the front-runners for the role of lead investment banker in Facebook's much-awaited blockbuster initial public offering next year, a media report said. Touted as one of the biggest IPOs in over a decade, Facebook's stock sale of about USD 10 billion is expected to take place in early 2012. With the California company planning to file...
11:23 AM, Dec 30, 2011
New York: Just five days before he was due to start his 11-year jail term for insider trading, hedge fund founder Raj Rajaratnam's lawyers made a last ditch effort to keep him out of jail, asking a US court to let him be free on bail while he appeals his conviction. 54-year-old Rajaratnam's prison sentence is scheduled to begin on December 5 at a federal penitentiary in Massachusetts. A three-judge...
12:41 PM, Dec 01, 2011
New York: Standard & Poor's reduced its credit ratings on 15 big banking companies, mostly in the Europe and the United States, on Tuesday as the result of a sweeping overhaul of its ratings criteria. JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, Goldman Sachs Group Inc, Morgan Stanley, Barclays Plc, HSBC Holdings Plc, Royal Bank of Scotland Group Plc and UBS AG, were...
09:53 AM, Nov 30, 2011
New York: At least two Goldman Sachs Group Inc executives face potential interviews under oath in the top US market regulator's civil insider trading case against a former director of the firm, Rajat Gupta, a court heard on Friday. The names of president and chief operating officer Gary Cohn and David Loeb, a managing director, came up at oral arguments in Manhattan federal court over whether or not depositions should...
11:59 AM, Nov 20, 2011
New York: A federal judge ordered Raj Rajaratnam, the Galleon Group hedge fund founder sentenced to 11 years in prison for insider trading, to pay a record $92.8 million penalty in a related US Securities and Exchange Commission civil case. The penalty imposed by US District Judge Jed Rakoff in Manhattan is in addition to the $63.8 million that Rajaratnam's lawyers said their client has already paid in his criminal...
05:29 AM, Nov 09, 2011
Mumbai: Before Indra Nooyi became CEO of PepsiCo Inc or Vikram Pandit took the reins at Citigroup Inc there was Rajat Gupta, the original "global Indian" who was the first to head a major Western business. More than 17 years after first being elected head of McKinsey & Co, the management consultancy, Gupta was charged last week in part of the same insider trading investigation that saw his friend, hedge...
08:27 AM, Oct 31, 2011
New York: Convicted hedge fund tycoon Raj Rajaratnam has already paid more than $ 63 million in penalties, ordered by the judge who sentenced him two weeks ago for insider trading, one of his lawyers said on Friday in New York federal court. Rajaratnam, 54, is going to prison for 11 years - the longest sentence recorded for an insider-trading case - as the central figure in a broad government...
10:45 AM, Oct 29, 2011
The United States Attorney's Office, Southern District of New York has released a July 29, 2008 US Federal Bureau of Investigation wiretap recording of a conversation between then Goldman Sachs director Rajat Gupta and Galleon Group founder Raj Rajaratnam. Listen. ...
05:09 PM, Oct 28, 2011
The former Goldman Sachs Director and McKinsey Chief Rajat Gupta pleaded not guilty to charges of insider trading. ...
10:22 PM, Oct 27, 2011
New Delhi: Rajat Kumar Gupta, aged 62, educated at IIT Delhi and Harvard Business School. Former Director, Goldman Sachs & Co-Founder of the Indian Business School. And now, an accused in an insider trading case, out on a $ 10 million bail. If found guilty, the poster-boy of Indian-American Wall Street success could face 105 years in prison. If Rajat Gupta's fall from grace was stunning, his rise in the...
08:03 PM, Oct 27, 2011
New York: Rajat Gupta, an accused in an insider trading scam in the US, was hailed for long as a poster-boy of Indians scaling great heights in corporate echelons abroad and his friends describe him as a God-fearing, 'first-class guy'. A native of Kolkata and an IITian, Gupta moved up the corporate ladder fast after graduating from the Harvard Business School. His record boasts of posts like head of consultancy...
06:21 PM, Oct 27, 2011
New York: Diwali for Rajat Gupta, facing insider trading charges, was dark but the Indian-American poster boy of Wall Street success felt it was auspicious to surrender on the day of the festival of lights, thinking that "gods will protect him". Gupta's fall from grace came on the day his native country India was celebrating Diwali, a festival that marks the triumph of good over evil. "He believed it was...
02:21 PM, Oct 27, 2011
New York: A New York court has set April 9 as the tentative date for the trial of Rajat Gupta, former Indian American director of Goldman Sachs after he pleaded not guilty to insider-trading charges. India-born Gupta, 62, who had surrendered to the FBI on Wednesday morning, was freed after posting $ 10 million bond, secured by his home in Westport, Connecticut. But he was ordered to surrender his passport...
01:38 PM, Oct 27, 2011
Former Goldman Sachs director Rajat Gupta has been released on a $ 10 million bail bond. ...
01:26 PM, Oct 27, 2011
Former Goldman Sachs director Rajat Gupta has surrendered to the FBI in the US insider trading case on Wednesday. ...
08:06 PM, Oct 26, 2011
New York: Former Goldman Sachs director Rajat Gupta, one of the most prominent Indian-Americans in the country's financial scene, is likely to surrender before authorities in New York on Wednesday as prosecutors are expected to file criminal charges against him in a massive insider trading scheme. A report in the New York Times quoted people briefed on the matter as saying that criminal charges would be filed against Gupta. The...
08:52 AM, Oct 26, 2011
San Francisco: Hewlett-Packard is beefing up its defences in an effort to fend off activist investors who, with enough shares, could demand drastic changes at the company, according to a published report. The Wall Street Journal reported Wednesday on its website that Hewlett-Packard Co. has hired Goldman Sachs to help formulate a strategy for guarding against shareholder activism. The Journal cited people "familiar with the matter" who were not named...
03:32 PM, Sep 29, 2011
