AMR Said Rajat K Gupta Stepped Down From Its Board (AMR)

AMR (NYSE:AMR) said that Rajat K. Gupta, former Goldman Sachs (NYSE:GS) and Procter & Gamble (NYSE:PG) director accused of leaking confidential information about those companies, has stepped down from the boards of both AMR and American Airlines, according to a New York Times report.

Gupta had joined the boards in 2008.

The SEC brought a civil case against Mr. Gupta on March 1, accusing him of passing along information on Goldman and P&G earnings to Raj Rajaratnam, the co-founder of the Galleon Group hedge fund. Gupta's lawyer called the accusations "totally baseless."

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