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

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note