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Monday, June 11, 2012

Former Goldman board member will not testify on his own behalf at NY insider trading trial

http://hosted.ap.org/dynamic/stories/U/US_HEDGE_FUND_INSIDER_TRADING?SITE=OKOKJ&SECTION=HOME&TEMPLATE=ap-business-template.html

The defense lawyer for a former Goldman Sachs board member accused of insider trading notified the judge on Sunday that his client will not testify at his trial.
Attorney Gary Naftalis sent a letter to Manhattan federal court judge Jed Rakoff saying that Rajat Gupta "will not be a witness on his own behalf in the defense case."
The attorney had told the judge on Friday that Gupta was "highly likely" to testify in his defense this week. But Naftalis said they decided "after substantial reflection and consideration" that Gupta would not testify.

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