'Rudy' Drink Investor To Pay $5M Over Alleged Stock Scheme

Law360, New York (September 25, 2013, 7:01 PM EDT) -- An investor and his stock broker will have to pay more than $5 million for their involvement in an alleged “pump-and-dump” stock scheme surrounding former Notre Dame football player Daniel “Rudy” Ruettiger’s sport drink company, according to a final judgment filed Tuesday.

The judgment requires Gregg Mulholland, who the SEC says was a main “pumper” in the scheme, to pay $5.3 million for fraudulently marketing shares of Ruettiger’s company, Rudy Nutrition, to investors in order to artificially inflate the stock price before selling his shares at...
To view the full article, register now.