Andy Bechtolsheim Insider Traded on Tech Deal, SEC Alleges (1)

Andy Bechtolsheim, the billionaire co-founder of Sun Microsystems Inc. and Arista Networks Inc., will be barred from serving as an executive or board member of a public company for five years after the Securities and Exchange Commission accused him of insider trading.

The SEC alleged in a lawsuit filed Tuesday in federal court in San Jose, California, that Bechtolsheim illegally traded on Cisco Systems Inc.’s $2.6 billion offer to buy Acacia Communications Inc. in 2019. He learned about the deal in advance, the SEC said.

He settled with agency, agreeing to pay a $923,740 fine but didn’t ...