Ex-Goldman Sachs official may pursue lawsuit against SEC

[alp227]

Source: The Washington Post

When the SEC in March accused former Goldman Sachs board member Rajat K. Gupta of leaking corporate secrets to a hedge fund billionaire, Gupta protested that the agency was treating him unfairly.

Although the charges were similar to those the SEC had filed against dozens of others in related insider trading cases, only Gupta was charged administratively, denying him a trial by jury and the safeguards afforded by the federal rules of evidence.

Now a judge has ruled that Gupta can pursue his complaint against the SEC in federal court.

Judge Jed S. Rakoff ruled Monday that Gupta can move forward with a lawsuit arguing that the Securities and Exchange Commission singled him out for uniquely unfavorable treatment in violation of the Constitution’s guarantee of equal protection under the law.

Read more: http://www.washingtonpost.com/business/economy/ex-goldman-sachs-official-may-pursue-lawsuit-against-sec/2011/07/11/gIQAubYV9H_story.html

[pam4water]

1. Sue Bush administration for torture no :( Sue SEC for doing it's job yes. What a joke.