Arista Networks former chairman agrees to pay nearly $1M to settle insider trading charges

The founder and former chairman of technology company Arista Networks has agreed to pay almost $1 million to settle insider trading charges. The Securities and Exchange Commission said Tuesday that Andreas “Andy” Bechtolsheim misappropriated material nonpublic information related to the impending acquisition of Acacia Communications. The insider information was related to Cisco System's announcement in 2019 that it would purchase Acacia.