Ex-Orioles Player Settles Insider Trading Suit For $2.5M

Law360, New York (August 4, 2011, 5:25 PM EDT) -- Former Baltimore Orioles baseball player Doug DeCinces has agreed to pay $2.5 million to settle insider trading claims related to a 2009 Abbott Laboratories Inc. buyout of Advanced Medical Optics Inc., the U.S. Securities and Exchange Commission revealed Thursday.

In a complaint filed Thursday in California federal court, the SEC claimed the former third baseman and three associates scooped up more than $1.7 million in illegal profits after DeCinces received confidential information about the deal from a source at Advanced Medical Optics.

After he received word...
To view the full article, register now.