Andy Bechtolsheim Insider Traded on Tech Deal, SEC Alleges
- Early Google investor barred from executive, board roles
- He agrees to settlement, doesn’t admit or deny allegations
Photographer: David Paul Morris/Bloomberg
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Andy Bechtolsheim, the billionaire co-founder of Sun Microsystems Inc. and Arista Networks Inc., will be barred from serving as an executive or board member of a public company for five years after the Securities and Exchange Commission accused him of insider trading.
The SEC alleged in a lawsuit filed Tuesday in federal court in San Jose, California, that Bechtolsheim illegally traded on Cisco Systems Inc.’s $2.6 billion offer to buy Acacia Communications Inc. in 2019. He learned about the deal in advance, the SEC said.