Unexpected sequel of the day: Rudy Ruettiger, the Notre Dame football walk-on and inspiration for the Sean Astin movie “Rudy,” just had to settle with the Securities and Exchange Commission — getting fined $382,000 for turning his Gatorade challenger “Rudy” into a penny stock pump-and-dump scheme that drew $11 million in illicit profits, hundreds of thousands of which went to the feel-good icon. In the end, the hardworking runt sold more stocks than he did beverages. “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,” said the sound-bite-ready Scott W. Friestad of the SEC’s enforcement division. That feel-good story doesn’t feel so good anymore now, does it?
December 18, 2011 // 12:21 // 2 years ago