The author has posted comments on this articlePTI | Dec 16, 2012, 03.54AM IST
NEW YORK: India-born former Goldman Sachs Director Rajat Gupta has said he should not be required to pay the global investment banking firm $6.78 million it is asking as reimbursement for legal fees and other expenses incurred by it in connection with his insider-trading case.
In a lengthy 43-page motion filed in US District Court here on Friday, Gupta has opposed Goldman’s demand for “restitution” of legal fees and other expenses totalling USD 6.78 million.
Gupta, 64, said Goldman has not identified and submitted “competent evidence” of the legal fees that it can be reimbursed for. Instead the company has submitted 540 pages of billing records for a three-year period from Dec 2009 through Nov 2012 which do not contain specifics of the legal tasks performed by Goldman in connection with Gupta’s case.