Gupta Lawyer: He Won't Testify After All

Going into the weekend, the expectation was that Rajat Gupta would testify in his own defense in his insider-trading case. But yesterday, "after substantial reflection and consideration," his lawyer said he would not.

Gupta's defense did, however, call friends to testify about his character . And it continued to argue that Goldman Sachs salesman David Loeb, rather than former Goldman director Gupta, had leaked the confidential bank information at issue in the case. The prosecution attacked this theory in cross-examining defense witness Richard Schutte, who worked as an executive for the hedge fund to which Gupta is accused of leaking information.

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