NEW YORK, March 26 Federal authorities on
Tuesday announced criminal charges against three new defendants
in the government's broad-based insider trading probe.
The U.S. Attorney in Manhattan said former Foundry Networks
executive David Riley leaked tips about the company to Matthew
Teeple, an analyst for an investment advisory firm to a family
of hedge funds in San Francisco, and Teeple then passed the
information to others who traded on it.
These trades resulted in more than $27 million in profits
and avoided losses, prosecutors said.
Prosecutors also said a co-defendant, John Johnson, has
pleaded guilty to related charges.
All three defendants were also charged by the U.S.
Securities and Exchange Commission in separate civil