Rajat Gupta was released from prison in 2016 after serving 19 months. Photo: AFPManhattan: A federal appeals court in Manhattan declined to throw out former Goldman Sachs Group Inc. director Rajat Gupta’s 2012 insider-trading conviction, upholding a lower-court ruling. He sued in 2015 arguing that the Newman ruling should be applied to free him from prison. The trial judge disagreed and the appeals court followed suit in its ruling on Monday. While Gupta has already served his prison term, a ruling in his favor would have cleared the conviction from his record.

Source: Mint January 07, 2019 17:15 UTC