Report: Mickelson's role in insider trading case 'overstated'

Golfer Phil Mickelson's role in an ongoing insider trading inquiry is reportedly not as significant as previously believed.

Four people briefed on the matter say Mickelson did not trade in the shares of Clorox when billionaire investor Carl C. Icahn was mounting an unsolicited takeover bid for the company in 2011, the New York Times reports.

Federal authorities have reportedly been examining Clorox stocks as part of a two-year investigation into trades made by Mickelson and sports gambler William T. Walters.

The five-time major champion maintains he has done "absolutely nothing wrong".

Authorities initially believed that Icahn shared private details of his Clorox bid with Walters, who then traded on the information and passed on the tip to Mickelson.

The FBI and Securities and Exchange Commission have found no evidence that Mickelson traded Clorox shares, although Icahn and Walters continue to be investigated.

According to The Times, two of the people briefed on the matter said an FBI agent informed Mickelson that the government is seeking information from him about Walters and has no plans to criminally charge the golfer.

FBI agents have twice approached Mickelson out of the blue, the publication was told; once at an airport and once on a golf course at a tournament.

While Mickelson looks to be in the clear in the Clorox case, he's still being investigated in another case:

The F.B.I., federal prosecutors in Manhattan and the S.E.C. continue to investigate well-timed trades made by Mr. Mickelson and Mr. Walters in shares of Dean Foods in the summer of 2012, the people briefed on the matter said.