Wednesday, 27 July 2016
Last updated 7 hours ago
Apr 4 2013 | 12:40am ET
Matthew Teeple, the hedge fund analyst arrested last week on insider-trading charges, has been released on $200,000 bail.
Teeple, who has been suspended by San Francisco-based Artis Capital Management, did not enter a plea at his first appearance in Manhattan federal court. He surrendered his passport and must remain in New York or New Jersey, and will be subject to alcohol tests.
Teeple, who faces conspiracy and securities fraud charges, is due back in court on April 25. He previously appeared in court in California, where he was released on $200,000 bond.
Teeple was arrested in California last Tuesday on allegations that he pushed colleagues at Artis to trade on a tip about Foundry Networks' impending acquisition by Brocade Communications Systems in 2008. Teeple allegedly received the tip from a friend, former Foundry chief information officer David Riley, who has also been charged.
According to prosecutors, Teeple then passed the tip on to money manager John Johnson and expert-networker Karl Motey. Johnson, chief investment officer for Wyoming's state retirement system until his firing this week, has pleaded guilty and is cooperating with prosecutors. Motey is a long-time cooperating witness who has already testified in two insider-trading trials.
Teeple's lawyers have said he plans to contest the charges against him.