Legal Opinion
Mercer v. Gupta
District Court, S.D. New York
Decided July 27, 2012No. 11 Civ. 3828 (JSR)PublishedCited by 2 opinions
1Opinion of the Court
MEMORANDUM ORDER
JED S. RAKOFF, District Judge.
Plaintiff James Mercer brings this “short-swing” profits action against defendant Rajat Gupta, a former director of Goldman Sachs, on behalf of nominal plaintiff Goldman Sachs, pursuant to Section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b). Mercer seeks to recover the profits Gupta allegedly realized from passing inside information regarding Goldman Sachs to Raj Rajaratnam, manager of the Galleon family of hedge funds. On November 23, 2011, Gupta moved to dismiss the action pursuant to Fed.R.Civ.P. 12(b)(6), and the Court, by…
2Cases cited13 opinions
- Roth v. JenningsCourt of Appeals for the Second Circuit · 2007
- Blau v. LehmanSupreme Court of the United States · 1962
- Official Committee Of The Unsecured Creditors Of Color Tile, Inc. v. Coopers & Lybrand, LlpCourt of Appeals for the Second Circuit · 2003
- Foremost-McKeeson, Inc. v. Provident Securities Co.Supreme Court of the United States · 1976
- Credit Suisse Securities (Usa) LLC v. SimmondsSupreme Court of the United States · 2012
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3Cited by2 opinions
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