SEC Charges Hedge Fund Analyst, Trader, and Executive with Insider Trading

On March 26, 2013, the SEC charged a California-based hedge fund analyst, Matthew Teeple, with insider trading in advance of a merger of two technology companies Foundry Networks Inc. and Brocade Communication Systems Inc. Teeple received nonpublic information from his friend, Foundry’s Chief Information Officer David Riley. The SEC also charged Riley and another trader,…