Goldman shareholder sues ex-director Gupta

Reuters

NEW YORK (Reuters) - A Goldman Sachs Group Inc shareholder sued Rajat Gupta, a former director of the investment bank, on Monday over trades revealed at the criminal insider trading trial of Galleon hedge fund founder Raj Rajaratnam.

The lawsuit filed in Manhattan federal court said Goldman shareholder James Mercer of Kirkland, Washington, sought judgment for profits from any transactions and other relief.

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Rajaratnam, 53, was convicted last month on charges of securities fraud and conspiracy for insider trading, including Goldman corporate secrets leaked to him by his friend Gupta. The former director is an unindicted co-conspirator in the case and denies any wrongdoing.

Gupta's lawyer could not immediately be reached to comment.

The case is James Mercer v Rajat Gupta, U.S. District Court for the Southern District of New York, No. 11-3828.

(Reporting by Grant McCool; editing by Andre Grenon)