Rajat Gupta Trial Date Delayed

Bangalore: The trial date of Rajat Gupta, former director of Goldman Sachs Group Inc. has been extended to May 21, at a court hearing in Manhattan, by Jed S. Rakoff, District Court Judge. Gupta has been charged of insider trading case, who disclosed the earnings about his company to Rajratnam, co-founder of Galleon Group.

April 9 was the date set for the trial, but as per the demand from Gupta’s defense team, a delay of six weeks was granted by the judge. More time is needed to prepare for the additional charges which have been imposed on Gupta, by Federal prosecutors, says Gupta’s lawyer.

The prosecution also declared that they are planning to bring to public’s notice, the occasions where Gupta illegally communicated insider details.

 “We’re going to disclose other tips in furtherance of the conspiracy,” Assistant U.S. Attorney Reed Brodsky was quoted as saying in The Wall Street Journal.

Gary Naftalis, Gupta’s lawyer said that it is not fair to add charges against Gupta at this last moment. “It’s time for them to stop and try the case they brought,” he said.

Rakoff responded to this by saying that prosecutors have the right to introduce evidence at the trial.