The inspirational 1993 movie “Rudy” celebrates Daniel Ruettiger as a plucky underdog who overcomes long odds and his diminutive stature to earn a walk-on role on Notre Dame’s legendary college-football team. But in a settlement announced on Friday, the Securities and Exchange Commission casts Mr. Ruettiger in a far less heroic light—as a key participant in a so-called pump-and-dump stock scheme that generated more than $11 million in allegedly illicit profits for a now-defunct beverage company, Rudy Nutrition.
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