Rajat Gupta says shouldn't be required to pay $6.78 mn to Goldman
it incurred relating to the SEC's administrative action against him.
Legal fees that Goldman incurred in relation to the investigation and prosecution of Rajaratnam also do not qualify for reimbursement.
"Simply stated, Goldman is entitled to restitution of only those fees it can demonstrate were necessarily incurred in connection with specific requests by the government or were otherwise required to be done in the investigation or prosecution of the Gupta case," Davis said.
Gupta said he was informed by the government just one week before his sentencing in October that Goldman was claiming an entitlement to all its legal fees incurred in the course of proceedings arising from Gupta's conduct, in addition to 25 per cent of the compensation he received as Goldman director.
Goldman is seeking restitution of at least USD55,472 representing the cash compensation paid to Gupta as a director from November 2006 through May 2010.
"This request should be denied because Goldman has already forfeited to itself approximately one million dollars of options and restricted stock non-cash compensation it paid to him as a director. Thus, it has already obtained well over 75 per cent of Gupta's total director compensation," the motion said.
Gupta added that Goldman has merely submitted bulk bills with no effort to organise them in categories, or otherwise segregate what is recoverable from what is not.
"Goldman has not even begun to satisfy its burden of showing the fees are recoverable, reason alone to refuse to order restitution of any legal fees, but
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