the republic logo

Ex-CEO charged with sharing insider trading secrets with former Oriole All-Star DeCinces

bug
Share/Save/Bookmark

SANTA ANA, California — Federal prosecutors say the former CEO of a Southern California medical device company has been indicted on allegations that he shared insider trading secrets with former Baltimore Orioles All-Star Doug DeCinces.

The U.S. attorney's office says James Mazzo, former CEO of Advanced Medical Optics Inc., was indicted Wednesday on 13 insider trading charges related to a case previously filed against DeCinces.

Federal prosecutors say Mazzo shared information in 2008 with his friend, DeCinces, that the company was going to be bought by Abbott Laboratories for more than double the stock price.

Mazzo is also charged with 13 counts of tender offer fraud and one of securities fraud.

Mazzo's attorneys released a statement saying he flatly denies the charges that they call "absurd."

The 64-year-old DeCinces has pleaded not guilty.

Think your friends should see this? Share it with them!

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.