Federal authorities arrested David Riley, 47, a former vice president at Foundry Networks Inc.

WSJ: 2 men charged in NY in $27M insider trading scheme

Crosspoint Venture Partners and Institutional Venture Partners both invested in Foundry Networks (nasdaq: FDRY - news - people), a maker of Internet switching gear.

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Back in the 1990s, he co-founded Foundry Networks, which saw its IPO spike 525% on its first day of trading ( you can see my interview with Chen here).

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