Bloomberg – The U.S. Securities and Exchange Commission’s decision to file an administrative action against ex Goldman Sachs Group Inc. (GS) director Rajat K. Gupta, instead of to sue him, is “bizarre,” the judge in a Galleon Group LLC case said.
The SEC filed its action against Gupta, 62, on March 1, alleging he tipped Galleon co-founder Raj Rajaratnam about Berkshire Hathaway Inc.’s $5 billion investment in Goldman Sachs, about the bank’s quarterly earnings and about earnings at Procter & Gamble Co., where Gupta was also a director.
