Golfer Phil Mickelson is named as a relief defendant in a federal lawsuit brought by the Securities and Exchange Commission Thursday regarding insider trading.
The lawsuit, filed in the Southern District of New York, alleges Mickelson sold stock in Dean Foods in 2012 after receiving information from sports bettor Bill Walters — a longtime friend of a Thomas Davis, a Dean Foods executive.
“Walters communicated with Mickelson and urged Mickelson to trade in Dean Foods stock, which Mickelson did the next trading day in three brokerage accounts he controlled,” the SEC complaint statessays. Mickelson allegedly made $931,000 from the transaction.