Rajat Gupta's lawyers are developing their defense strategy for the trial which starts in April. One "key defense theme," reports BLOOMBERG, is Gupta's supposed bad relationship with Raj Rajaratnam, former head of the hedge fund Galleon and convicted insider trader. That is his lawyers's contention: the two did not get along.
On this platform, the defense can build its case that Gupta, former head of McKinsey, had no incentive to enrich Rajaratnam by passing along to him material information about the plans of companies on whose boards he served as a director.
For his trial, Rajaratnam had the mosaic defense. That was the argument that so much information is part of a trading decision that it is impossible to identify one piece as some kind of tipping point. Many were surprised that didn't pan out.