An alleged stock tip has gone from a home run to a strikeout for Hall of Fame baseball player Eddie Murray.
The longtime Baltimore Orioles superstar agreed last week to pay $358,151 to settle an investigation into whether he broke insider-trading laws when he bought shares of a Santa Ana, Calif., company, allegedly on a tip from former teammate Doug DeCinces.
The Securities and Exchange Commission accused Murray of making $235,314 in illegal profit on advance knowledge of the 2009 buyout of Advanced Medical Optics Inc. by Illinois-based Abbott Laboratories Inc.
Shares of Advanced Medical Optics, a medical eye-products company, shot up 143 percent after the acquisition was announced.
Murray, who’s 504 home runs rank 25th on the all-time list, used all the available money in his brokerage account to buy 17,000 shares of Advanced Medical Optics after being tipped by DeCinces, according to the SEC. Murray sold all his shares after the deal was announced, the SEC said.
“It is truly disappointing when role models, particularly those who have achieved so much in their professional careers, give in to the temptation of easy money,” Daniel M. Hawke, chief of the SEC’s market abuse unit, said.
As is typical in SEC settlements, Murray neither admitted nor denied the allegations. His payment included giving up his $235,314 profit, a penalty of $117,657 and prejudgment interest of $5,180.
Dodgers manager Don Mattingly has been suspended for two games this weekend against the Braves.
Mattingly was also given an undisclosed fine “for excessive arguing” with home plate umpire Angel Campos in Thursday’s 10-6 loss in Pittsburgh. Mattingly and outfielder Matt Kemp were ejected from the game.
Mattingly said he was told he was suspended because he did not attempt to restrain Kemp before joining the argument.
Kemp received no suspension or fine.
“I’m happy about that,” Mattingly said.
Yankees first baseman Mark Teixeira was out of the starting lineup against the Red Sox for the second day in a row because of a sore left wrist and may need a longer stretch to heal. … Braves catcher Brian McCann has a cyst and a frayed labrum in his right shoulder, but insists he should be starting and was visibly upset to be out of the lineup for the second straight day. … Red Sox pitching prospect Brian Johnson was hit in the face with a line drive in a Future Games at Boston’s Fenway Park and sustained multiple orbital bone fractures on the left side of his face. … The Rockies placed outfielder Carlos Gonzalez on the bereavement list after the death of his grandfather in Venezuela.