Gupta v. Securities and Exchange Commission Featured Case

Rajat 'Raj' Gupta, a former Goldman Sachs Director facing insider trading charges in the Galleon Group hedge fund scandal, sued the S.E.C. over it's administrative proceeding against him under the Dodd-Frank Act. Gupta alleges that the federal agency's administrative action is unconstitutional because it denies him "his right to a jury trial and other procedural safeguards" that he would otherwise have in federal court.

Plaintiff: Rajat K. Gupta
Defendant: Securities and Exchange Commission
Case Number: 1:2011cv01900
Filed: March 18, 2011
Court: US District Court for the Southern District of New York
Office: Foley Square Office
County: XX Out of State
Presiding Judge: Jed S. Rakoff
Nature of Suit: Other Statutory Actions
Cause of Action: 28 U.S.C. § 2201 Declaratory Judgement
Jury Demanded By: Plaintiff
Docket Report

This docket was last retrieved on November 5, 2011. A more recent docket listing may be available from PACER.

Date Filed Document Text
August 8, 2011 Filing 27 JOINT STIPULATION OF DISMISSAL: NOW, IT IS STIPULATED AND AGREED, as follows: The SEC will not bring any administrative or cease-and-desist proceedings in the future against Mr. Gupta based on the factual allegations in the Order Instituting Proceedings. Any future action against Mr. Gupta based on the factual allegations in the Order Instituting Proceedings shall only be filed in the U.S. District Court for the Southern District of New York. Should the SEC file any such action, the SEC will designate it as related under Rule 13 of the Court's Rules for the Division of Business among District Judges to the other Galleon cases presently pending before the Honorable Jed S. Rakoff. Pursuant to Rule 41 (a)(l)(A)(ii) of the Federal Rules of Civil Procedure, this action is voluntarily dismissed without prejudice, and with each party to bear its own costs. (Signed by Judge Jed S. Rakoff on 8/6/2011) (jfe)
August 5, 2011 Minute Entry for proceedings held before Judge Jed S. Rakoff: Telephone Conference held on 8/5/2011. (lmb)
August 4, 2011 Opinion or Order Filing 26 ORDER: Defendant's time to answer is adjourned, sine die, and the entire matter is stayed pending further order of the Court. (Signed by Judge Jed S. Rakoff on 8/4/2011) (ab)
August 1, 2011 Minute Entry for proceedings held before Judge Jed S. Rakoff: Telephone Conference held on 8/1/2011. (mbe)
July 29, 2011 Filing 25 CIVIL CASE MANAGEMENT PLAN: This Court requires that this case shall be ready for Hearing on 10/31/11. This case is not to be tried to a jury. Amended Pleadings due by 7/26/2011. Joinder of Parties due by 7/22/2011. Motions due by 9/30/2011. Responses due by 10/14/2011 Replies due by 10/21/2011. Deposition due by 9/23/2011. Discovery due by 9/23/2011. Oral Argument set for 10/31/2011 at 04:00 PM before Judge Jed S. Rakoff. Final Pretrial Conference set for 10/31/2011 at 04:00 PM before Judge Jed S. Rakoff. Additional relief as set forth in this Order. (Signed by Judge Jed S. Rakoff on 7/25/11) (pl)
July 27, 2011 Opinion or Order Filing 24 STIPULATION AND ORDER TO EXTEND TIME TO ANSWER: IT IS HEREBY STIPULATED, CONSENTED TO AND AGREED by and between counsel for Plaintiff Rajat K. Gupta (hereinafter referred to as "Plaintiff,) and counsel for Defendant the United States Securities and Exchange Commission (hereinafter referred to as "Defendant" ) that the deadline to file Defendant's Answer be enlarged from July 25, 2011 to August 1,2011. This is the first time the parties have asked for an extension of the pleading deadlines. ( Securities and Exchange Commission answer due 8/1/2011 ) (Signed by Judge Jed S. Rakoff on 7/26/11) (laq)
July 22, 2011 Minute Entry for proceedings held before Judge Jed S. Rakoff: Telephone Conference held on 7/22/2011. (lmb)
July 11, 2011 Opinion or Order Filing 23 OPINION AND ORDER: #100521 denying 10 Motion to Dismiss. The court has considered the SEC's additional arguments and finds them without merit. Since Gupta seeks injunctive relief, further proceedings must occur on a moderately expedited basis. Accordingly, the parties should confer as to a case management plan that (a) is tailored to address only the equal protection claim, and (b) will allow for the completion of all discovery, subsequent motion practice, and any ultimate evidentiary hearing within the next four months. The parties should submit their joint or several case management plans to the Court, in writing,by no later than July 18, 2011.(Signed by Judge Jed S. Rakoff on 7/11/2011) (mbe) Modified on 7/12/2011 (jab).
June 29, 2011 Filing 22 NOTICE of WITHDRAWAL OF COUNSEL. Document filed by Rajat K. Gupta. (Sternhell, Michael)
June 21, 2011 Minute Entry for proceedings held before Judge Jed S. Rakoff: Telephone Conference held on 6/21/2011. (ft)
May 20, 2011 Filing 21 NOTICE OF FILING OF OFFICIAL TRANSCRIPT Notice is hereby given that an official transcript of a argument proceeding held on 4/21/11 has been filed by the court reporter/transcriber in the above-captioned matter. The parties have seven (7) calendar days to file with the court a Notice of Intent to Request Redaction of this transcript. If no such Notice is filed, the transcript may be made remotely electronically available to the public without redaction after 90 calendar days...(McGuirk, Kelly)
May 20, 2011 Filing 20 TRANSCRIPT of Proceedings re: argument held on 4/21/2011 before Judge Jed S. Rakoff. Court Reporter/Transcriber: Martha Drevis, (212) 805-0300. Transcript may be viewed at the court public terminal or purchased through the Court Reporter/Transcriber before the deadline for Release of Transcript Restriction. After that date it may be obtained through PACER. Redaction Request due 6/13/2011. Redacted Transcript Deadline set for 6/23/2011. Release of Transcript Restriction set for 8/22/2011.(McGuirk, Kelly)
May 2, 2011 Filing 19 NOTICE OF FILING OF OFFICIAL TRANSCRIPT Notice is hereby given that an official transcript of a ARGUMENT proceeding held on 4/21/11 has been filed by the court reporter/transcriber in the above-captioned matter. The parties have seven (7) calendar days to file with the court a Notice of Intent to Request Redaction of this transcript. If no such Notice is filed, the transcript may be made remotely electronically available to the public without redaction after 90 calendar days...(McGuirk, Kelly)
May 2, 2011 Filing 18 TRANSCRIPT of Proceedings re: ARGUMENT held on 4/21/11 before Judge Jed S. Rakoff. Court Reporter/Transcriber: Martha Drevis, (212) 805-0300. Transcript may be viewed at the court public terminal or purchased through the Court Reporter/Transcriber before the deadline for Release of Transcript Restriction. After that date it may be obtained through PACER. Redaction Request due 5/26/2011. Redacted Transcript Deadline set for 6/6/2011. Release of Transcript Restriction set for 8/4/2011.(McGuirk, Kelly)
April 15, 2011 Filing 17 REPLY MEMORANDUM OF LAW in Support re: 10 MOTION to Dismiss Complaint.. Document filed by Securities and Exchange Commission. (Attachments: # 1 Exhibit Rajat Gupta's Answer in AP)(Bruckmann, Christopher)
April 11, 2011 Filing 16 MEMORANDUM OF LAW in Opposition re: 10 MOTION to Dismiss Complaint. /Memorandum of Law of Plaintiff Rajat K. Gupta in Opposition to Defendant's Motion To Dismiss Complaint. Document filed by Rajat K. Gupta. (Attachments: # 1 Exhibit A, # 2 Exhibit B)(Naftalis, Gary)
April 8, 2011 Filing 15 NOTICE OF APPEARANCE by Michael J. Sternhell on behalf of Rajat K. Gupta (Sternhell, Michael)
April 6, 2011 Opinion or Order Filing 14 ORDER FOR ADMISSION PRO HAC VICE ON WRITTEN MOTION, granting 12 Motion for Richard M. Humes to practice pro hac vice as counsel for the Securities and Exchange Commission in the above-captioned case in the United States District Court for the Southern District of New York. Additional relief as set forth in this Order. (Signed by Judge Jed S. Rakoff on 4/6/11) (pl)
April 1, 2011 Filing 13 MEMORANDUM OF LAW in Support re: 10 MOTION to Dismiss Complaint.. Document filed by Securities and Exchange Commission. (Attachments: # 1 Exhibit Order Instituting Proceedings, # 2 Exhibit excerpt of transcript)(Bruckmann, Christopher)
March 28, 2011 Filing 12 MOTION for Richard M. Humes to Appear Pro Hac Vice. Document filed by Securities and Exchange Commission.(mbe)
March 28, 2011 Filing 11 TRANSCRIPT of proceedings held on 3/22/2011 before Judge Jed S. Rakoff. (ama)
March 23, 2011 Filing 10 MOTION to Dismiss Complaint. Document filed by Securities and Exchange Commission. Responses due by 4/11/2011 Return Date set for 3/21/2011 at 04:00 PM.(Bruckmann, Christopher)
March 23, 2011 Filing 9 NOTICE OF APPEARANCE by Christopher Mark Bruckmann on behalf of Securities and Exchange Commission (Bruckmann, Christopher)
March 22, 2011 Minute Entry for proceedings held before Judge Jed S. Rakoff: Pre-Motion Conference held on 3/22/2011, ( Moving Papers due by 4/1/2011., Replies due by 4/15/2011., Responses due by 4/11/2011, Oral Argument set for 4/21/2011 at 04:00 PM before Judge Jed S. Rakoff.). (mbe)
March 21, 2011 Filing 8 AFFIDAVIT OF SERVICE of Summons and Complaint. Securities and Exchange Commission served on 3/18/2011, answer due 5/17/2011. Service was accepted by LaTanya Simpson, Legal Correspondence Receptionist. Document filed by Rajat K. Gupta. (Oberman, Michael)
March 21, 2011 Magistrate Judge Henry B. Pitman is so designated. (sjo)
March 18, 2011 Filing 7 NOTICE OF CASE ASSIGNMENT to Judge Jed S. Rakoff. Judge Unassigned is no longer assigned to the case. (sjo)
March 18, 2011 CASE ACCEPTED AS RELATED. Create association to 1:09-cv-08811-JSR. Notice of Assignment to follow. (sjo)
March 18, 2011 Filing 6 NOTICE OF APPEARANCE by David Stanley Frankel on behalf of Rajat K. Gupta (Frankel, David)
March 18, 2011 Filing 5 NOTICE OF APPEARANCE by Robin Marie Wilcox on behalf of Rajat K. Gupta (Wilcox, Robin)
March 18, 2011 Filing 4 NOTICE OF APPEARANCE by Alan Roy Friedman on behalf of Rajat K. Gupta (Friedman, Alan)
March 18, 2011 Filing 3 NOTICE OF APPEARANCE by Michael Stewart Oberman on behalf of Rajat K. Gupta (Oberman, Michael)
March 18, 2011 Filing 2 NOTICE OF APPEARANCE by Gary P. Naftalis on behalf of Rajat K. Gupta (Naftalis, Gary)
March 18, 2011 Filing 1 COMPLAINT against Securities and Exchange Commission. (Filing Fee $ 350.00, Receipt Number 932346)Document filed by Rajat K. Gupta.(mro) (ama).
March 18, 2011 SUMMONS ISSUED as to Securities and Exchange Commission. (mro)
March 18, 2011 Case Designated ECF. (mro)
March 18, 2011 CASE REFERRED TO Judge Jed S. Rakoff as possibly related to 09-cv-8811. (mro)

Access additional case information on PACER

Use the links below to access additional information about this case on the US Court's PACER system. A subscription to PACER is required.

Access this case on the New York Southern District Court's Electronic Court Filings (ECF) System

Search for this case: Gupta v. Securities and Exchange Commission
Search News [ Google News | Marketwatch | Wall Street Journal | Financial Times | New York Times ]
Search Web [ Unicourt | Legal Web | Google | Bing | Yahoo | Ask ]
Plaintiff: Rajat K. Gupta
Represented By: David Stanley Frankel
Search News [ Google News | Marketwatch | Wall Street Journal | Financial Times | New York Times ]
Search Finance [ Google Finance | Yahoo Finance | Hoovers | SEC Edgar Filings ]
Search Web [ Unicourt | Justia Dockets | Legal Web | Google | Bing | Yahoo | Ask ]
Defendant: Securities and Exchange Commission
Represented By: Christopher Mark Bruckmann
Search News [ Google News | Marketwatch | Wall Street Journal | Financial Times | New York Times ]
Search Finance [ Google Finance | Yahoo Finance | Hoovers | SEC Edgar Filings ]
Search Web [ Unicourt | Justia Dockets | Legal Web | Google | Bing | Yahoo | Ask ]

Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia.


Why Is My Information Online?