Ex-Orioles player Eddie Murray is part of insider trading inquiry

Wed Jun 20, 2012 5:15pm EDT
 
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By Emily Flitter

NEW YORK (Reuters) - Hall of Fame baseball player Eddie Murray is one of several former professional athletes under investigation by federal authorities in a U.S. insider trading case stemming from the buyout of a medical device company, people familiar with the three-year-old probe said.

Federal prosecutors and securities regulators are trying to determine whether Murray, a star slugger for the Baltimore Orioles, traded on inside information that Abbott Laboratories was about to announce a deal in January 2009 to acquire Advanced Medical Optics for $2.8 billion, the sources said.

Reuters previously reported on the investigation by federal prosecutors in Los Angeles and the U.S. Securities and Exchange Commission, but did not identify any of the players under scrutiny.

Murray, who has not been charged with any wrongdoing, could not be reached for comment. Michael Proctor, a lawyer who is representing Murray in the matter, did not immediately respond to a request for comment.

Diane Hock, a lawyer who represents Murray in his post-baseball marketing deals, said she had heard about an investigation, but declined to comment further.

The investigation involving Murray is related to the probe that led to the filing of a civil insider trading case against former Orioles player Doug DeCinces. In August 2011, DeCinces settled with the SEC, agreeing to pay $2.5 million in fines, while neither admitting nor denying wrongdoing in the trading of Advanced Medical Optics shares.

DeCinces and Murray played together on the Orioles from 1977 to 1982.

DeCinces' lawyer did not respond to calls seeking comment.   Continued...

 
Former major league baseball star Eddie Murray holds his plaque after being inducted into the National Baseball Hall of Fame in Cooperstown, New York, July 27,2003. REUTERS/MikeSegar/Files