Mark Cuban charged with insider trading

Discussion in 'Current Events' started by GigiBowman, Nov 17, 2008.

  1. GigiBowman
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    GigiBowman Active Member

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    NEW YORK (CNNMoney.com) -- Billionaire entrepreneur Mark Cuban, owner of the National Basketball Association's Dallas Mavericks, was charged Monday by the Securities and Exchange Commission with insider trading.

    According to the SEC, Cuban sold 600,000 shares of Internet search company Mamma.com in June 2004 using non-public information.

    Cuban is accused of calling his broker and instructing him to sell all of his stock from Mamma.com after receiving the confidential information from the company.

    The SEC said Cuban learned that the company would raise money through a public offering, and he knew the stock price was about to fall.

    continued: Dallas Mavericks owner Cuban charged with insider trading - Nov. 17, 2008
     
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  2. dilloduck
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    dilloduck Diamond Member

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    ooops---there goes one !
     
  3. random3434
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    random3434 Senior Member

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    He'll be 'Dancing with the Stars" again!

    O.J. and Heather Locklear to name a few..........
     
  4. tresha
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    tresha Active Member

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    Dumb-ass is worth over 2 billion dollars and allegedly broke the law to save 750,000.00
    What a fucking idiot.
    I hope it winds up costing him way the hell more than that.
    Stupid just goes clear through to the bone sometimes, doesn't it?
     
  5. dilloduck
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    dilloduck Diamond Member

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    He's got plenty of Jewish lawyer buddies---I wouldn't worry about him.
     
  6. foggedinn
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    foggedinn VIP Member

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    I just consider it the Martha Stewart syndrome. People this rich always get a heads up about stock prices before the rest of us.

    It's a good thing God made me a poor man or I'd have probably done the same thing.
     
  7. Navy1960
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    Navy1960 Senior Member

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    It's my understanding that they are charging him in civil court? Still though and this is just an editorial, couldn't have happened to a nicer guy, Mark Cuban will IMO spend more than that just trying to defend himself to make a point. Here is a man who funded a film that for the most part denegrated the US Military "Loose Change" and supported a player on his team that quote " I don't need to stand at no fucking national anthem" Mark Cuban's response was to laugh because he thought it was all a big joke. Well it seems fate had a sense of humor after all Mr. Cuban.
     
  8. DavidS
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    DavidS Anti-Tea Party Member

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    2008 is NOT a year for the Maverick.
     
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  9. random3434
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    random3434 Senior Member

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    Now THAT was funny David!
     
  10. Gunny
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    Gunny Gold Member

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    Gee, that's too bad. :eusa_whistle: :lol:
     

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