Andy Bechtolsheim Settles Insider Trading Charges with SEC

The tech billionaire agreed to pay nearly $1 million in penalties and will be barred from serving as an officer or director of a public company for five years.

Andreas 'Andy' Bechtolsheim, co-founder of Arista Networks and Sun Microsystems, has settled insider trading charges with the SEC, resulting in close to $1 million in penalties.
The charges stem from Bechtolsheim's insider trading based on non-public information about Cisco's acquisition of Acacia Communications in 2019.
Bechtolsheim allegedly used accounts of a close relative and an associate to trade Acacia options, profiting over $415,000.
In addition to the financial penalty, Bechtolsheim will be barred from serving as an officer or director of a public company for five years.
The settlement does not admit or deny the SEC's allegations but requires court approval.