Hall of Fame Baseball Player Eddie Murray Paying $358,000 To Settle Civil Insider-Trade Case | Roland Martin Reports

Hall of Fame Baseball Player Eddie Murray Paying $358,000 To Settle Civil Insider-Trade Case

Source: AP / The Washington Post

WASHINGTON — 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 on Friday 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 in January 2009.

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 but agreed to refrain from future violations of securities laws.

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