Thursday, 18 December 2014
Last updated 39 sec ago
May 29 2014 | 9:56am ET
Matthew Teeple, a former analyst at Artis Capital Management, yesterday became the latest hedge-fund employee to plead guilty to insider trading.
Teeple admitted that he passed a tip about Brocade Communications Systems’ planned acquisition of Foundry Networks in 2008, and pushed his own colleagues at Artis to trade on it. Teeple allegedly got the information from former Foundry chief information officer David Riley, with whom he was set to stand trial in July.
Teeple acknowledged that he passed the tip on to two others who have already pleaded guilty: Former Wyoming Retirement System chief investment officer John Johnson and Karl Motey, a cooperating witness who has played a role in several recent insider-trading cases.
“I deeply regret the role I played in this illegal conduct,” Teeple said in court.
By pleading guilty to conspiracy, Teeple will face only five years in prison when he is sentenced in September. Had he been convicted of fraud at trial, he could have received 20 years in prison.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.