WASHINGTON Oct 13 San Francisco-based Artis
Capital Management has agreed to disgorge profits of $5.2
million plus $1.1 million in interest and pay a penalty of $2.6
million to settle charges related to the hedge fund's failure to
detect insider trading by an employee, the Securities and
Exchange Commission said on Thursday.
Michael Harden, a senior research analyst at Artis Capital,
also agreed to pay a $130,000 penalty to settle the charges and
was suspended from the securities industry for 12 months, the
SEC said in a statement.
The employee, Matthew Teeple, was sentenced in 2014 to five
years in prison after pleading guilty to conspiracy to engage in
(Reporting by Mohammad Zargham; Editing by Phil Berlowitz)