We will post the most important news right here, updating throughout the day.
Interesting short piece from Options Monster. Mickelson bought the Clorox options when they had only four days left before expiration! And — voila! — Icahn made his announcement on the very day those options were set to expire. An Options Monster analyst at the time “noted the extreme nature of those trades.”
New WSJ article with the lastest news.
CNBC did an extended segment on the scandal. One CNBC reporter investigated the 13-A reports and found that Icahn did make some purchases of Clorox for his fund (not just for his personal account) which could trigger “insider” status, causing him big legal headaches.
A panelist said, forget the legality of it, what will retail investors think if Mickelson’s acting on such private information nets him millions? They already think the game is rigged; it would be another reason to invest elsewhere (not what the NYSE wants to hear).
Earlier in the day, I saw a “legal expert” saying that Mickelson was absolutely not guilty of a crime. This struck me as odd, so I looked up the expert online and found he heads a law firm defending white collar criminals. Yeah, right, that’s an unbiased commentator…