A former Goldman Sachs Group Inc board member accused of leaking inside information has sued U.S. regulators, saying they are trying to unfairly deprive him of a jury trial.
Rajat Gupta filed a complaint against the U.S. Securities and Exchange Commission in Manhattan federal court Friday. The SEC has accused Gupta of tipping Galleon hedge fund manager Raj Rajaratnam about confidential Goldman information.
Gupta contends the SEC's civil case against him would not allow him to fight the charges at a jury trial. His complaint says the SEC is trying to retroactively apply provisions of the Dodd-Frank financial reform law.