Pro Golfer Mickelson Benefits From Post-Newman Turmoil

Law360, New York (May 19, 2016, 10:08 PM EDT) -- Although professional golfer Phil Mickelson made nearly $1 million trading on tips from a pro gambler friend who was indicted Thursday, prosecutors and the U.S. Securities and Exchange Commission declined to charge him with insider trading, a stroke of luck attorneys attributed to the heightened standards ushered in by the Second Circuit’s Newman decision.

According to the SEC, Phil Mickelson received inside information about Dean Foods, which netted him $931,000. (Credit: AP) While federal prosecutors and the SEC announced parallel criminal and civil insider trading charges Thursday against sports bettor William “Billy” Walters and the former chairman of the board of...

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