Monday, 26 September 2016
Last updated 2 days ago
Jun 12 2014 | 10:54am ET
Golfer Phil Mickelson did not trade shares of Clorox Co. in advance of Carl Icahn’s 2011 bid for the company, another hole in an already shaky insider-trading probe.
Federal prosecutors and the Securities and Exchange Commission are looking into whether Mickelson and gambler William Walters traded on tips from Icahn about his planned activities; Icahn and Walters are golfing buddies, as are Walters and Mickelson. Authorities were already facing a difficult time building a case before news of the two-year-old investigation broke two weeks ago, preventing the Federal Bureau of Investigation from moving forward with plans to employ wiretaps.
Now, The New York Times reports, it has emerged that Mickelson did not even trade Clorox shares, among those at the center of the probe. He still faces an investigation into well-timed trades made in Dean Foods shares, as does Walters.
Icahn, Mickelson and Walters have all denied wrongdoing. “I don’t give out inside information,” Icahn said, pointing to “an unblemished record” over 50 years.