I freely admit my bias being a holder of that perennial ticket to riches, a Journalism degree, but WSJ has never struck me as a publication that would run a story that appears this flimsy. I would stop short of saying "never" because we all know that isn't the case.
The statements from Mickelson and Ichan you would expect, nor does the fact that the men have never met or spoken bear any relevance on whether or not Mickelson may have traded using non-public information sourced to Ichan.
I am not a lawyer (see above) or expert on these matters, but with the 3 times I've seen cases like this brought to people I knew (don't ask) the SEC seem to do their homework and then some. These are very difficult cases to prosecute successfully, so when they move forward with an investigation, they've got something pretty solid.
Now with all that said...there's no way Mickelson is every convicted (if even charged) of any wrongdoing. There's so many individuals in the middle of this that they are going to be charged ultimately.
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