Friday, Aug. 17, 2012

Hall of Famer Murray settles insider-trading case

By MARCY GORDON

WASHINGTON (AP) — Hall of Fame baseball player Eddie Murray has agreed to pay $358,151 to settle federal civil charges of profiting in stock trades by using confidential information passed to him by a former teammate.

The Securities and Exchange Commission is also announcing related charges against James Mazzo, former CEO of Advanced Medical Optics, and businessman David Parker. The SEC says Mazzo provided illegal tips about a planned acquisition of Advanced Medical Optics by Abbott Laboratories. Mazzo passed the information to Murray's former teammate Doug DeCinces, who tipped off Murray and Parker, the SEC alleges in a civil lawsuit.

DeCinces settled the SEC's charges a year ago by agreeing to pay $2.5 million.

Murray, who retired in 1997, neither admitted nor denied wrongdoing.

2012-08-17 20:35:43 GMT

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