“Rudy” of Notre Dame Fame Pays out $382,000 in SEC Lawsuit

rudy

Before we get started, I have to point out here that SEC does not mean Southeastern Conference in this story; but rather Securities and Exchange Commission. The SEC, a United States governing agency that oversees the trading of stocks and bonds charges that Daniel E. Ruettiger, the real life “Rudy” used a sports drink company for a pump and dump scheme that illegally pulled in $11,000,000.

Yes, that Rudy, the former Notre Dame walk-on who inspired one of the the greatest college football movies of all time, (even if it was part infomercial for the University of Notre Dame) agreed to pay $382,866 to settle the SEC charges that his sports drink was a vehicle for a pump and dump scheme. However, in paying out the settlement, Ruettiger does not admit or deny the allegations.

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