Posted on 08/13/2015 7:21:30 AM PDT by Chauncey Uppercrust
U.S. authorities have launched an investigation into the former chairman of Dean Foods, the country's largest milk processor, who is suspected of leaking confidential information about a corporate spinoff to a professional gambler, who in turn is thought to have tipped off pro golfer Phil Mickelson, the Wall Street Journal reported.
Tom Davis, 66, abruptly resigned as chairman last week ahead of Dean Foods' second quarter earnings release on Monday. The company declined to provide details on his sudden departure, while Davis' lawyer said his resignation was voluntary, the WSJ reported.
The Securities and Exchange Commission together with the Manhattan U.S. attorney's office are probing whether Davis leaked information on the company's 2012 spinoff of its WhiteWave Foods subsidiary to prominent sports bettor William "Billy" Walters, people familiar with the investigation said. The WSJ has previously reported that the Federal Bureau of Investigation (FBI) had looked into potential trading by Mickelson in Dean Foods. The golfer is at the center of a larger investigation into insider trading.
done, thanks
Only if Hillary or Lois Lerner are involved.
But...Insider trading is OK if you are a Congress-Criter!
We’ll see how “serious” it is when Phil’s golf shirts have no sponsor’s logos on them. The departure of the Dean Foods is certainly suspicious.
Maybe Phil thought he was immune from prosecution because he’s a lefty.
Hillary Clinton and obama commit treason among many other crimes and nothing happens. Phil goes golfing with a guy and bam the FBI is on to him.
Wall Street Journal also has the story, in fact they broke it
love it
“I think to be involved in insider trading, as a subject, you must have released the info or received it from an insider. “
That makes sense and that is what I thought when I read this article, but you know how US law is so we can not be sure unless you are a legal expert in this area.
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