Former Xilinx big shot implicated in scheme to tip off Galleon hedge fund manager who used the inside info to short company's stock.
Robert Moffat was once thought to be a candidate for chief executive at Big Blue.
A former Intel executive pleads guilty to conspiracy and securities fraud by providing confidential information in the Galleon Group insider-trading case.
A high-ranking IBM executive charged with insider trading connected to the Galleon Group has left the company.
Hector Ruiz, the former CEO and chairman of Advanced Micro Devices, has been linked to the insider-trading case, according to a Wall Street Journal report.
Gadzoox, a maker of storage-network equipment, has secured more than $7 million in funding from Balch Hill Capital and Galleon Group, the company announced Wednesday. The money will be used to develop new products and continue the launch of the company's newest release, the Slingshot 4210, which supports a 2 gigabit-per-second version of the Fibre Channel. The investors bought shares in Gadzoox at a price of $1.50 per share. The company's shares were trading around $1.40 Thursday.
Shareholders have sued Gadzoox Networks, alleging that the maker of networking equipment issued false statements when describing its 1999 initial public offering. Law firm Schiffrin & Barroway said Gadzoox and IPO underwriters Credit Suisse First Boston and BancBoston Robertson Stephens "solicited and received undisclosed commissions" from some investors in exchange for shares in the IPO. Gadzoox was not immediately available for comment. In addition, Gadzoox on Friday named David Eichler chief financial officer and Kristin Strout vice president of human resources. The company has been in turmoil and is banking on a new switch but missed financial estimates in April. In May, fund manager Galleon Group invested $14.8 million in Gadzoox.
NetDynamics announced a third round of private funding totaling $8.5 million. The late-stage funding comes from The Galleon Group, Attractor Investment Management, Van Wagoner Capital Management, and Integral Capital Partners. This brings the company's total venture funding to $15.4 million. NetDynamics said it will use the additional funding to sustain its growth in Asian and European markets.