Analyst pleads guilty to insider trading charge

Gavel

Former hedge fund analyst Matthew Teeple pleaded guilty on Wednesday to a criminal conspiracy charge in connection with the 2008 takeover of a technology company.

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.

To access the complete Reuters article hit the link below:

Former hedge fund analyst pleads guilty in insider trading case

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