Rajat K. Gupta pleaded not guilty yesterday to passing inside information he learned as a board member at Goldman Sachs and Procter & Gamble to Raj Rajaratnam, the Galleon Group hedge fund founder and convicted insider trader.

Mr. Gupta pleaded not guilty to one count of conspiracy and five counts of securities fraud before Southern District Judge Jed S. Rakoff following his initial presentment before Magistrate Judge Kevin N. Fox. He surrendered to authorities early yesterday morning and appeared with lawyers Gary P. Naftalis and Alan R. Friedman of Kramer Levin Naftalis & Frankel.

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