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Email On May 19, 2016, the United States Attorney’s Office for the Southern District of New York and the Securities and Exchange Commission (“SEC”) announced insider trading charges against Las Vegas sports bettor William (“Billy”) Walters and former Dean Foods chairman Thomas Davis for allegedly trading on nonpublic company information. Tellingly, no charges were brought against professional golfer Phil Mickelson, who was named as a relief defendant and agreed to repay close to $1 million in trading profits made as part of the alleged scheme. https://www.cadwalader.com/resources/clients-friends-memos/governments-decision-not-to-charge-phil-mickelson-illustrates-difficulties-in-proving-insider-trading-cases-against-tippees