On July 11, the U.S. District Court for the Southern District of New York allowed Rajat Gupta's complaint against the SEC to proceed, narrowing it to the single issue of whether the SEC's decision to administratively sue him for insider trading violates his equal protection rights. In finding that Gupta stated a claim, the Court noted that the SEC's administrative complaint against Gupta is largely similar, both in the facts alleged and the remedies sought, to its allegations against 28 other defendants in related insider trading cases filed in court. The Court further noted that the SEC failed to inform Gupta of its intention to file an Order Instituting Proceedings ("OIP") and made the OIP available in the related criminal prosecution of Raj Rajaratnam. Gupta v. SEC.