Former MLB all-star charged with insider trading
Former Major League Baseball all-star Doug DeCinces has settled
insider trading charges with federal regulators over $1.7 million
in illegal trades.
The Securities and Exchange Commission says DeCinces received an
insider tip in late 2008 that Advanced Medical Optics would be
acquired by Abbott Laboratories Inc. The SEC says he bought shares
of Advanced Medical Optics through brokerage accounts while his
source updated him on the deal’s progress. He shared the
information with three associates who also made illegal trades, the
DeCinces agreed to pay $2.5 million to settle the case without
admitting or denying guilt. The three associates also settled.
DeCinces is a former third-baseman who played 15 seasons for the
Baltimore Orioles, the California Angels, and the St. Louis