Rajat K. Gupta is stepping down from Procter & Gamble Co. (PG) board following SEC suit, CNBC reports. Erlier today, the SEC filed a lawsuit against former Goldman Sachs (GS) board member and P&G Director Rajat Grupta over insider trading for illegally tipping Galleon Management founder and hedge fund manager Raj Rajaratnam with inside information about the quarterly earnings at both firms.
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