SEC settles insider trading charges against Andy Bechtolsheim, co-founder of Arista, Sun Microsystems
Publishing timestamp: 2024-03-27 08:00:06
Summary
Andy Bechtolsheim, co-founder of Sun Microsystems and Arista Networks, has settled insider trading charges with the U.S. Securities and Exchange Commission. He will pay a fine of almost $1 million and is barred from serving as a public company officer or director for five years. The charges are tied to Cisco's acquisition of Acacia Communications in 2019, where Bechtolsheim allegedly traded options of Acacia based on confidential information he learned.
Sentiment: NEGATIVE
Keywords: arista networks inc, illegal insider trading, sec, business news, breaking news: technology, cisco systems inc, oracle corp, lawsuits, technology,