3 Charged In Insider Trading Scheme Tied To $3B Brocade Deal

Law360, Los Angeles (March 26, 2013, 11:50 PM EDT) -- Federal prosecutors said Tuesday that they have filed conspiracy and securities fraud charges against three former executives and analysts in an investigation of insider trading surrounding Brocade Communications Systems Inc.’s $3 billion acquisition of Foundry Networks Inc. in 2008.

Former Foundry vice president David Riley and investment advisory analyst Matthew Teeple are facing criminal conspiracy and securities fraud charges for their involvement in the insider trading scheme, U.S. Attorney Preet Bharara said in a statement. And pension investment officer John Johnson pled guilty to conspiracy and securities...
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