A U.S. court here has dismissed a breach of contract lawsuit filed by former Goldman Sachs director Rajat Gupta against his long-time friend and business associate Parag Saxena, saying the claims are no longer relevant.
U.S. District Judge George Daniels said in a December 3 order that New Silk Route CEO Mr. Saxena’s “motion to dismiss is granted and the action is dismissed as moot. Accordingly, the case is closed.”
During a hearing in Manhattan federal court, Mr. Daniels said, “I have a dim view of the merits of this claim.”
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The judge said since Mr. Gupta had a representative on the company board the original complaint was moot. Mr. Gupta’s lawyer Rishi Bhandari said the suit was filed in order to ensure that there was a designee on the board. “If they do anything to impair Mr. Gupta’s rights, we can still sue to stop them,” Mr. Bhandari added.