- The SEC formally charged the former chairman of Dean Foods (NYSE:DF) with participating in an insider trading scheme.
- The charging documents stated that Thomas Davis passed on tips to well-known gambler Billy Walters, including advance notice of the WhiteWave Foods (NYSE:WWAV) spinoff.
- The case involves professional golfer Phil Mickelson who allegedly made a profit of $931K from tips received by Walters. 3-time Masters winner Mickelson was not charged, but is listed as a "relief defendant" in the case.
- The allegations against Davis have been reported previously.