TheStreetSweeper in the News
- The Wall Street Journal: Northern Oil & Gas Gets a Bear Raid
- The Motley Fool: Northern Oil and Gas Shares Plunged: What You Need to Know
- Barron's: Insider Selling Accelerates at Northern Oil & Gas
- Benzinga: Will Growth Spurt Last for Northern Oil & Gas?
- Benzinga: More Trouble for Northern Oil and Gas
Gupta Defense To Fed Jury: 'You've Got The Wrong Guy'
What may be the most high-profile insider trading case to date began unfolding this week with the federal prosecution of former Goldman Sachs Director Rajat Gupta. The 63-year-old Wall Street luminary is on trial for charges that he fed tips on Goldman activities to Ray Rajaratnam, the former hedge fund guru who was convicted of insider trading and is now serving an 11-year prison sentence. Most notably, the Huffington Post reported, federal prosecutors say Gupta fed advance information to Rajaratnam just before Warren Buffet invested $5 million in Goldman Sachs, and Rajaratnam quickly made trades to cash in on the deal.. Gupta's lawyers are claiming their client is not guilty, and that others at Goldman passed the tips. “You've got the wrong guy,” The Post quoted Gupta's lead lawyer as telling jurors in the New York trial.
