Phil Mickelson named in federal insider trading inquiry
By Jay Busbee, Devil Ball Golf
May 4, 2014; Charlotte, NC, USA; Phil Mickelson tees off on the
fourth hole during the final round of the Wells Fargo Championship at Quail
Hollow Club. Mandatory Credit: Joshua S. Kelly-USA TODAY Sports
Phil Mickelson's name has surfaced in a federal
investigation into insider trading, along with those of investor Carl Icahn and
noted gambler Billy Walters.
None of the three men is accused of any
wrongdoing. But federal investigators are examining trades involving the men's
connection to two separate companies, Clorox and Dean Foods. Specifically, the investigation is seeking to
determine whether Mickelson and Walters traded based on insider information.
In February 2011, Icahn acquired 9.1
percent of Clorox. In July of that year, he made a takeover offer that sent the
share price rocketing upward. Federal investigators noted an unusual increase
in trading activity on Clorox stock shortly before Icahn announced his offer. One
theory the government is investigating, according to the Wall Street Journal,
is that Icahn gave information about the upcoming bid to Walters, who then gave
information to Mickelson. There is no evidence that Icahn and Mickelson know
each other.
"Well-timed trading around the time
of his bid caught the attention of investigators, who began digging into the
suspicious trading in Clorox stock, the people familiar with the probe
said," according to the Wall Street Journal.
Ultimately, Icahn's bid failed. And it is
possible that even if Icahn did leak inside information, he did not break any
laws doing so.
The other element of the investigation,
Dean Foods, involves trades Mickelson and Walter made in August 2012, just
before Dean announced its quarterly earnings. Investigators are seeking to
determine whether someone inside the company may have tipped off Walters, who
in turn notified Mickelson.
Federal investigators had been pursuing
the Clorox angle with little success until FBI officials approached Mickelson
at a New Jersey
airport in 2013.
Mickelson, through his representatives,
declined comment, as did federal officials and Walters. Icahn was more
definitive.
"We do not know of any
investigation," he told the Journal. "We are always very careful to
observe all legal requirements in all of our activities." He also termed
"inflammatory and speculative" any implication that he was involved
in any illegal activities.
Mickelson is currently tied for 37th at
the Memorial. He was approached by federal investigators after his opening
round on Thursday, and reportedly referred the investigators to his attorneys.
Phil Mickelson
Phil
Mickelson is a Masters Tournament
winner in (2004, 2006), and an endorser for the Callaway
Golf Company.
Note: Tiger
Woods is a 1997 winner, 2005 winner, 2002 winner, 2001 winner in the Masters Tournament, and the founder of the Tiger Woods Foundation.
Jonathan
M. Orszag is a director at the Tiger Woods Foundation,
and a senior fellow at the Center for American
Progress.
Open Society
Foundations was a funder for the Center for American
Progress, the Committee for Economic
Development, and the Carnegie Endowment for
International Peace (think tank).
George Soros
is the founder & chairman for the Open Society Foundations,
was the chairman for the Foundation to Promote Open
Society, and a supporter for the Center for
American Progress.
Foundation
to Promote Open Society was a funder for the Center for
American Progress, the Aspen Institute (think
tank), the Committee for Economic
Development, the NAACP Legal Defense &
Educational Fund, and the Carnegie Endowment for
International Peace (think tank).
Ezekiel
Emanuel is a senior fellow at the Center for American
Progress, Rahm I. Emanuel’s brother, and was the health care policy adviser
for the Barack Obama administration.
Rahm I.
Emanuel is Ezekiel Emanuel’s brother, a
member of the Commercial Club of Chicago, and
was the White House chief of staff for the Barack Obama
administration.
R. Eden
Martin is the president of the Commercial Club of Chicago,
and counsel at Sidley Austin LLP
Michelle
Obama was a lawyer at Sidley Austin LLP,
and is Craig M. Robinson’s sister.
Alan F.
Holmer was a partner at Sidley Austin LLP,
and William E. Walters was his chief of
staff.
Barack Obama
was an intern at Sidley Austin LLP.
Newton N.
Minow is a senior counsel at Sidley Austin LLP,
and a member of the Commercial Club of Chicago.
Andrew
J. McKenna Sr. is a member of the Commercial Club of Chicago,
was a director at the Dean Foods Company,
and a director at the American Ireland Fund.
G. Craig
Sullivan is a director at the American Ireland Fund,
and was the chairman & CEO for the Clorox Company.
Donald
R. Knauss is the chairman & CEO for the Clorox
Company, and a director at the Grocery Manufacturers Association.
Denise
M. Morrison is a director at the Grocery Manufacturers Association,
and the president & CEO for the Campbell Soup Company.
Doreen
A. Wright was the SVP for the Campbell Soup Company,
and is a director at the Dean Foods Company.
Gregg L.
Engles was the chairman for the Dean Foods Company,
and is a director at the Grocery Manufacturers Association.
John H. Bryan
was the chairman for the Grocery Manufacturers Association,
and is a member of the Commercial Club of Chicago.
Penny S.
Pritzker is a member of the Commercial Club of Chicago,
the secretary at the U.S. Department of
Commerce for the Barack Obama administration, married to Bryan
Traubert, was the national
finance chair, fundraiser for the 2008 Barack Obama
presidential campaign, a co-chair for the 2009 Barack
Obama inaugural committee, a fundraiser, national co-chair for the 2012 Barack Obama presidential campaign, a contributor for
the 2013 Barack Obama inaugural committee,
the host for the Barack Obama fund-raising dinner, 7/2/2008,
and Craig M. Robinson’s basketball coach
for the children's team.
Bryan
Traubert is married to Penny S. Pritzker,
and a director at the National Park Foundation.
John
C. Cushman III was a director at the National Park Foundation,
and is a director at the Callaway Golf Company.
Yotaro
Kobayashi is a director at the Callaway Golf Company,
a trustee at the Aspen Institute (think tank), and
was a trustee at the Committee for Economic
Development.
James S.
Crown is a trustee at the Aspen Institute
(think tank), and a member of the Commercial
Club of Chicago.
Lester Crown
is a member of the Commercial Club of Chicago,
and was a lifetime trustee at the Aspen
Institute (think tank).
Adebayo
O. Ogunlesi is a director at the NAACP Legal Defense &
Educational Fund, a trustee at the Carnegie
Endowment for International Peace (think tank), and a director at
the Callaway Golf Company.
Phil
Mickelson is an endorser for the Callaway Golf Company,
and a Masters Tournament winner in (2004,
2006).
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