Market Commentary and Intraday News
News Summary: Murray paying $358,151 in settlement
274 days ago
By The Associated Press
HALL OF FAMER SETTLES CHARGES: 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.
TIPS ON AN ACQUISITION: The Securities and Exchange Commission also announced related charges against James Mazzo, former CEO of Advanced Medical Optics, and businessman David Parker. The SEC said Mazzo provided illegal tips about a planned acquisition of Advanced Medical Optics by Abbott Laboratories. Mazzo passed the information to Murray's former Baltimore Orioles teammate Doug DeCinces, who tipped off Murray and Parker, the SEC alleges. Mazzo on Friday denied the SEC's allegations.
DECINCES SETTLED: DeCinces settled the SEC's charges a year ago by agreeing to pay $2.5 million.
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