Bloomberg reports:
Baseball Hall of Famer Eddie Murray agreed to pay $358,151 to resolve U.S. regulatory claims that he reaped illegal profits from an insider-trading scheme involving his former Baltimore Orioles teammate Doug DeCinces.
Murray made $235,314 in profits after Abbott Laboratories Inc. said in January 2009 it would acquire Advanced Medical Optics Inc. through a tender offer, the Securities and Exchange Commission said in an e-mail statement today. DeCinces and three others agreed to pay $3.3 million last year to settle SEC claims they reaped a total of $1.7 million, the agency said.
One of the best switch hitters in history, Murray finished his career with more than 3,000 hits and 500 home runs — one of only three players to accomplish both feats. Murray played with seven different clubs, but his best years came with the Baltimore Orioles, the team that drafted him.
