Gupta v. United States, 2d Cir., Jan. 11, 2019 (per curiam)
The Second Circuit affirmed Judge Rakoff’s denial of Rajat Gupta’s post-conviction motion under 28 U.S.C. § 2255. Gupta argued that the district court’s jury instructions regarding the “personal benefit” component of insider trading offenses was invalid under the Second Circuit’s later decision in United States v. Newman, 773 F.3d 438 (2d Cir. 2014).
Although Gupta’s counsel objected to the jury instruction at trial, that objection was not pursued on direct appeal. Therefore, Gupta’s claim under Newman was procedurally defaulted.