APNewsBreak: DeCinces indicted for insider trading

Published November 29, 2012 2:37am ET



LOS ANGELES (AP) — Former Baltimore Orioles all-star Doug DeCinces and three others were indicted Wednesday on insider trading charges involving the use of information prior to the takeover of a medical device company in California, authorities said.

In 2008, DeCinces was told by a close friend and official at Advanced Medical Optics Inc. that Abbott Laboratories planned to pay $21 to $23 a share for the company’s stock, prosecutors said. At the time, Advanced Medical Optics was trading for about $8 a share.

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