Just two weeks after learning he was the focus of an insider trading investigation with Carl Icahn, it has been revealed that Phil Mickelson never even traded the Clorox stock in question.
Clorox was one of the stocks federal authorities were looking into during a lengthy, and it seems fruitless, insider trading investigation of Mickelson, gambler William Walters, and billionaire Carl Icahn. The FBI and SEC found that Mickelson never traded Clorox, but are continuing to look into Icahn and Walters for the well-timed trades. The New York Times, one of the first report the original story, now claims that their sources gave an "overstated scope of the investigation" and later admitted they made a mistake.
The authorities believe Icahn may have shared his plan to bid on Clorox with Walters, who used the opportunity to make a well timed and lucrative trade. Initially, it was thought Walters shared this information with Mickelson. In the event Icahn did share information with Walters, it still may have been completely legal and within his rights as an investor. This still remains unclear.
Mickelson isn't quite off the hook yet. While he wasn't involved in the Clorox trades, he is still being investigated for well timed trades of Dead Foods Co. in 2012.
Still, Mickelson seems unfazed. He just wants to play some golf.
This article is from the archive of our partner The Wire.
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