U.S. Attorney Charges Former Dean Foods Chairman And Gambler With Insider Trading

The U.S. Attorney for the Southern District of New York will announce insider trading charges Thursday against the former chairman of the board of Dean Foods and professional Las Vegas gambler William "Billy" Walters. The Justice Department alleges Davis provided material non-public information to Walters, who is also charged in a separate indictment, about Dean Foods earnings results, outlook and the spinoff of Whitewave-Alpro, a Dean subsidiary. Walters used that information to trade illegally in Dean Foods shares, the government says.