Authorities are reportedly looking into whether golfer Phil Mickelson got stock tips about Dean Foods from sports bettor Billy Walters. Fred Katayama reports.
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Just when it seemed Phil Mickelson was cleared in an insider trading probe involving Clorox stock, the Masters champ is still bunkered on another stock. The Wall Street Journal reports that federal authorities recently subpoenaed dairy company Dean Foods and asked it to cough up information. It says they're looking into whether Mickelson got stock tips about Dean Foods from Vegas sports gambler Billy Walters. Authorities are investigating trading in Dean's shares related to the spinoff of its WhiteWave Foods division two years ago. Dean Foods told Reuters it is doing its own investigation.
In the middle of all this: Billy Walters. That same investigation is also looking into his possible link to activist investor Carl Icahn over the trading of Clorox shares. The stock jumped when Icahn made a bid for the cleaning products maker in 2011. The Journal says the SEC wants to know if Icahn tipped Walters about his move. The SEC has asked Clorox and Icahn for more information.
None of the three have been charged, and all deny any wrongdoing.
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