Et tu, Rudy? (of Notre Dame)

Discussion in 'Wall St. News' started by Pekelo, Dec 16, 2011.

  1. Pekelo


    Daniel Ruettiger, the legendary Notre Dame football underdog who inspired the 1993 movie "Rudy," couldn't do an end run around the U.S. Securities and Exchange Commission

    "The SEC on Friday charged Ruettiger and 12 others with running a stock scam associated with Rudy Nutrition - a company Ruettiger founded to try to compete against Gatorade in the sports drink market.

    The company sold modest amounts of the sports drink "Rudy" with the tagline "Dream Big! Never Quit!", but the company was primarily a pump-and-dump stock scheme that created more than $11 million in illicit profits, the SEC said.
    Ruettiger agreed to pay $382,866 to settle the case, without admitting or denying the charges.

    "Investors were lured into the scheme by Mr. Ruettiger's well-known, feel-good story but found themselves in a situation that did not have a happy ending," SEC enforcement lawyer Scott Friestad said in a statement."