SEC Settles With Real-Life 'Rudy' Over $11M Stock Scheme

Law360, New York (December 16, 2011, 7:46 PM EST) -- The former University of Notre Dame football player whose story inspired the 1993 movie "Rudy" on Friday settled allegations by the U.S. Securities and Exchange Commission that he had run an $11 million pump-and-dump scheme through his sports drink company.

Daniel "Rudy" Ruettiger agreed to pay $382,866 to settle the claims, also filed Friday in the District of Nevada. In its complaint, the SEC accused Ruettiger and various co-conspirators of fraudulently marketing shares of his company, Rudy Nutrition, to investors in order to inflate the stock...
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