SEC dismisses the Gupta case

Larry Ribstein —  5 August 2011

Amid yesterday’s market turmoil it’s easy to forget about Rajat Gupta.  He’s the guy whose suit against the SEC led a federal judge to put the agency under judicial supervision.

Now the SEC has dismissed its misbegotten administrative proceeding. They can file a civil insider trading case before the same judge who has cast his skeptical gaze on the agency.

Larry Ribstein

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Professor of Law, University of Illinois College of Law