Mickelson Didn’t Trade Stock At Center Of Icahn Insider-Trading Probe

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. 


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note