Become a digitalPLUS subscriber. $12 for 12 weeks.

Topics

Raj Rajaratnam
Trail of stock deals led to DeCinces insider trading accusation
Trail of stock deals led to DeCinces insider trading accusation

The stock purchases began in December 2008, less than two months after discussions kicked off about the corporate acquisition of a California medical products manufacturer. By the time the deal was announced on Jan. 12, 2009, former Orioles third baseman Doug DeCinces had bought 83,700 shares in the company, Advanced Medical Optics Inc. The stock's value soared 143 percent on news of the $2.8 billion acquisition, and DeCinces quickly sold his shares for a profit of $1,282,691. Three of DeCinces' friends and business associates also sold recently acquired shares of Advanced Medical Optics for a profit of $430,000. Securities and Exchange Commission court filings lay out a...

Loading