August 17, 2017
A New York federal judge has stayed the U.S. Securities and Exchange Commission's $43 million insider trading case against prominent sports gambler Billy Walters involving Dean Foods, agreeing that it is better to wait until after a ruling is handed down concerning financial penalties in his criminal proceeding.
December 02, 2016
A Manhattan federal judge on Friday told prosecutors seeking to put businessman William T. Walters behind bars for an alleged $43 million Dean Foods Co. insider trading scheme to describe which trades they deem to be illegal — and to search U.S. Securities and Exchange Commission notes for exculpatory material.
October 31, 2016
The stay of a U.S. Securities and Exchange Commission enforcement action while a related criminal proceeding plays out was long considered to be a given in parallel cases, but some judges are increasingly eschewing blanket civil discovery stays, a welcome shift for many in the defense bar.
October 17, 2016
A former Dean Foods director charged alongside a prominent sports bettor over an insider trading scheme tied to pro golfer Phil Mickelson has settled the U.S. Securities and Exchange Commission's civil action against him, agreeing to an officer and director ban and possible monetary penalties.
September 16, 2016
Pro golfer Phil Mickelson is on the discovery witness list for both sides of a New York federal civil suit against a prominent sports bettor and a former Dean Foods Co. board member over an insider trading scheme, the U.S. Securities and Exchange Commission revealed at a pretrial conference Friday.
August 26, 2016
A New York federal judge on Friday denied Manhattan federal prosecutors' bid to halt discovery in civil proceedings against a prominent sports bettor and a former Dean Foods Co. board member over an insider trading scheme tied to pro golfer Phil Mickelson, finding that a stay would disadvantage the defense.
August 05, 2016
Manhattan federal prosecutors on Friday asked a federal judge to stay civil proceedings against a prominent sports bettor and a former Dean Foods Co. board member over an insider trading scheme tied to pro golfer Phil Mickelson, accusing the gambler of seeking to exploit civil discovery to aid his parallel criminal case.
May 19, 2016
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.