Hedge Fund Analyst Pleads Not Guilty To Insider Trading

May 15 2013 | 1:14pm ET

Artis Capital Management analyst Matthew Teeple has pleaded not guilty to insider-trading charges.

Teeple and his alleged source, former Foundry Networks chief information officer David Riley, both entered not guilty pleas in Manhattan federal court yesterday. The two were arrested in March and face decades in prison on the conspiracy and securities fraud charges.

According to prosecutors, Riley told Teeple about Foundry's planned acquisition by Brocade Communications Systems in 2008. Teeple then pushed his colleagues at Artis to trade on the tip, and passed it on to two others, including a government cooperating witness, Karl Motey. Both Motey and the other recipient, former Wyoming Retirement System chief investment officer John Johnson, have pleaded guilty.

The scam netted the men more than $27 million in illicit profits, the government says.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...