The Securities and Exchange Commission has settled insider trading charges with the former chairman and chief executive officer of Advanced Medical Optics, Inc., James V. Mazzo. The SEC alleged that Mazzo tipped a friend, Douglas V. DeCinces, with inside information about the pending acquisition of Advanced Medical. DeCinces, a professional baseball player, is alleged to have gained over $1.3 million in trades based on the ill-gotten material non-public information, which DeCinces communicated to several other individuals, who made approximately $1 million in trades based on it. Mazzo agreed to a permanent injunction from future violations and to pay $1.5 million in civil penalties. Mazzo is also barred from serving as officer or director for five years. DeCinces and four of the individuals who received tips have also settled with the SEC; claims against an additional tippee, David L. Parker, have not yet been resolved.