Billionaire Co-founder Banned for Insider Trading

By
David Kowalski
1 min read

News Content

Andreas ‘Andy’ Bechtolsheim, the billionaire co-founder of Sun Microsystems Inc. and Arista Networks Inc., has been barred from holding executive or board positions in a public company for five years. This action follows the Securities and Exchange Commission's accusation of insider trading. The SEC filed a lawsuit alleging that Bechtolsheim illegally traded on Cisco Systems Inc.'s $2.6 billion offer to buy Acacia Communications Inc. in 2019, a deal he had learned about in advance. Bechtolsheim settled the suit immediately, according to court papers.

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