The Securities and Exchange Commission, however, doesn't look as favorably at people who can play both sides of something. The Baltimore Orioles legend learned that the hard way, being charged with insider trading on Friday as part of a probe that involved his old teammate Doug DeCinces.
Murray has already settled the case.
The SEC alleges Mr. Murray made about $235,314 in illegal profits when Abbott (Laboratories) publicly unveiled its plan to buy Advanced Medical Optics in January 2009. Mr. Murray agreed to pay $358,151 to settle the SEC's charges without admitting or denying the allegations.
The Orioles just unveiled a statue of Murray outside Camden Yards last weekend and it has him batting lefthanded as he hit more homers from that side of the plate. Given Friday's penalty, I'm guessing that statue will be a more fruitful source of stock tips in the future than the man himself.
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