Matthew Teeple, a former analyst at a San Francisco-based hedge fund who was accused of taking part in a $27 million insider-trading scheme, admitted that he passed on a tip about Foundry Networks Inc.'s acquisition of Brocade Communications Systems Inc. on which others traded (United States v. Riley).
“I deeply regret the role I played in this illegal conduct,” Teeple told U.S. Magistrate Judge James Francis in New York May 28.
Teeple was scheduled to go to trial in July along with David Riley, the former chief information officer at Foundry who’s accused of providing him with the ...
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