Sec settles mercury backdating brocade

by  |  17-Apr-2017 09:08

According to the SEC, Teeple received the information from Foundry's chief information officer, David Riley, and then caused the "hedge fund advisory firm where he works to buy Foundry shares in large quantities in the days leading up to the public announcement." Additionally, Teeple allegedly tipped his friend John Johnson, who also traded on the information.

The SEC has charged Teeple, Riley, and Johnson with violating various sections of the Exchange Act and Securities Act and seeks disgorgement, prejudgment interest, financial penalties, and permanent enjoinment.

Bertini agreed to a judgment that permanently enjoins him from future violations of the Exchange Act and orders him to pay over $49,000 in disgorgement, prejudgment interest, and penalties.

Bertini has also been barred from "serving as an officer and director of a public company for a period of five years." SEC Charges Rengan Rajaratnam with Insider Trading, March 22, 2013, (Litigation Release No.

Additionally, the SEC seeks to "permanently prohibit Riley from serving as an officer or director of a public company." In a separate action, criminal charges have been announced against Teeple, Riley, and Johnson.

SEC Charges Del Monte Foods Company Employee with Insider Trading, March 22, 2013, (Litigation Release No.

Last week the Do J brought criminal charges against two Brocade Communications Systems executives, while the SEC filed a civil suit against the same two and the CFO.

Community Discussion