Jacko Law Group, PC
Call Today for a Consultation
San Diego 619-298-2880 San Francisco 415-766-3599 Los Angeles 213-631-2549

Phil Mickelson Agrees to Repay Profits from Insider Trading

phil-mickelson-blogLast week the SEC announced insider trading charges including pro-golfer Phil Mickelson. Mickelson agreed to pay back more than $1 million he earned from an insider stock tip from William “Billy” Walters, a famous sports gambler. As a result of a previous insider trading case, U.S. v. Newman, Mickelson was not liable for insider trading. The SEC claims Walters was owed money by a former board member, Thomas C. Davis, of Dean Foods. Davis provided the tips to Walters using a prepaid cell phone and in exchange Walters “provided Davis with almost $1 million and other benefits to help Davis address his financial debts.” The U.S. Attorney’s Office also announced criminal charges against Walters and Davis. Insider trading is prohibited under federal securities laws and carries with it, severe penalties for individuals and companies that act on inside information. Should you suspect that insider trading has occurred, it is important to immediately work with counsel. JLG’s attorneys can guide you through conducting an investigation to interfacing with the regulators (as necessary) and responding to formal investigatory inquiries. Additionally JLG can help provide training and development of policies and procedures to help prevent insider trading. For more information, please contact info@jackolg.com or 619.298.2880.

No Comments

Leave a comment
Comment Information
Email Us For A Response

How Can We Help?

Email us to request more information or to schedule an appointment.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

San Diego Office
1350 Columbia Street
Suite 300
San Diego, CA 92101

Toll Free: 866-497-2298
Phone: 213-631-2549
Phone: 619-298-2880
Fax: 619-298-2882
Map & Directions

San Francisco Office
Four Embarcadero Center
Suite 1400
San Francisco, CA 94111

Phone: 213-631-2549
Phone: 415-766-3599
Fax: 619-298-2882
Map & Directions

Los Angeles Office
535 N. Brand Boulevard
Suite 279
Glendale, CA 91203

Phone: 213-631-2549
Fax: 619-298-2882
Map & Directions