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Arista Networks founder, Andy Bechtolsheim, with a net worth of $16B, has been accused by the SEC of insider trading, involving a transaction that netted $416k, Bloomberg reports. Bechtolsheim, also a co-founder of Sun Microsystems and an early investor in Google, allegedly had a close relative buy call options on Acacia Communications the day before Arista Networks announced its acquisition of the company. Despite the charges, it appears the SEC has settled the case civilly without a criminal referral to the Department of Justice.
This is crazy, if accurate Bechtolsheim (founder of Sun, Google seed investor, worth $16B) as chairman of Arista (he cofounded) had a close relative buy call options on Acacia the day before Arista acquired it… earning a total of $416k. WHY WOULD HE DO THIS? https://t.co/8bf0tpW9rb
This is crazy, if accurate Bechtolsheim (founder of Sun, Google seed investor, worth $16B) as chairman of Arista (he cofounded) had a close relative buy call options on Acacia the day before they acquired it… earning a total of $416k. WHY WOULD HE DO THIS? https://t.co/2bt8eDwjxl
Co-founded Sun Microsystems, first check into Google, $10bn+ net worth, made $416k from insider trading. Weird. https://t.co/BGnh3mnJ6j