Reuters reports that the former Artis Capital Management analyst told U.S. Magistrate Judge James Francis in Manhattan that he received tips from David Riley, a former chief information officer at Foundry Networks, including one about the company's pending $3bn takeover in 2008 by Brocade Communications Systems.
Teeple, 42, pleaded guilty to one count of conspiracy to commit securities fraud. He also agreed to forfeit $553,890, according to his plea agreement.
'I deeply regret the role that I played in this illegal conduct', he told the judge.
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