11-17-2008, 10:00 AM
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#1
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Franchise Player
Join Date: May 2002
Location: Virginia
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Mark Cuban charged with insider trading
I couldn't find a good link yet, just breaking news.
Can't say I'm very sad, or surprised to hear this news.
Hard to tell if it is a criminal charge, or civil action at this point.
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11-17-2008, 10:03 AM
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#2
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Franchise Player
Join Date: Jul 2005
Location: in your blind spot.
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http://blog.wired.com/business/2008/...arges-mar.html
Quote:
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SEC charges Dallas Mavericks owner and Internet entrepreneur Mark Cuban with insider trading for selling shares in Mamma.com, now known as Copernic, upon learning it was raising money in a private offering.
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__________________
"The problem with any ideology is that it gives the answer before you look at the evidence."
—Bill Clinton
"The greatest obstacle to discovery is not ignorance--it is the illusion of knowledge."
—Daniel J. Boorstin, historian, former Librarian of Congress
"But the Senator, while insisting he was not intoxicated, could not explain his nudity"
—WKRP in Cincinatti
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11-17-2008, 10:04 AM
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#3
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First Line Centre
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I would bet that there is so much insider trading that goes on that nobody finds out about. Hell if my friend said he was raising funds to drill some wells in an area known for oil/gas I probably would invest.
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11-17-2008, 10:10 AM
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#4
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Unfrozen Caveman Lawyer
Join Date: Oct 2002
Location: Crowsnest Pass
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Quote:
Originally Posted by The Ditch
I would bet that there is so much insider trading that goes on that nobody finds out about. Hell if my friend said he was raising funds to drill some wells in an area known for oil/gas I probably would invest.
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My dad worked briefly with the AB Securities Comm'n. He was disgusted how much insider trading/fraud was going on, and how little is being done about it. The mentality seems to be "everyone else is doing it", so everyone does it. He was specifically brought in to strengthen reporting rules on petroleum reserves, and met huge resistance.
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11-17-2008, 10:20 AM
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#5
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Franchise Player
Join Date: Apr 2008
Location: Calgary
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http://money.cnn.com/2008/11/17/news...ding/index.htm
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Entrepreneur Mark Cuban, owner of the National Basketball Association's Dallas Mavericks, was charged Monday by the Securities and Exchange Commission with insider trading.
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Similar info to bobbleheads post, just another source.
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11-17-2008, 11:48 AM
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#6
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Fearmongerer
Join Date: Oct 2001
Location: Wondering when # became hashtag and not a number sign.
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So Cuban saved $750,000 on a PIPE tip....and HE is the guy that is getting drawn and quartered by the SEC? Dude have been fined more than twice that by the NBA the last 5 years.
Awesome...thats akin to them going after Martha Stewart....get the "big" name and people think you are doing something.
That kind of transaction happens DAILY on the NYSE. Funny stuff.
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11-17-2008, 02:49 PM
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#7
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addition by subtraction
Join Date: Feb 2008
Location: Tulsa, OK
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its too bad too. now baseball has a reason to not let him buy the cubs. he could have been the best thing to happen to them in a long time... they didn't want him around and now have the perfect excuse...
__________________
Quote:
Originally Posted by New Era
This individual is not affluent and more of a member of that shrinking middle class. It is likely the individual does not have a high paying job, is limited on benefits, and has to make due with those benefits provided by employer.
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07-17-2009, 10:23 PM
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#8
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Franchise Player
Join Date: Jun 2004
Location: Calgary
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Quote:
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A U.S. federal judge dismissed a civil insider-trading lawsuit against Dallas Mavericks owner Mark Cuban on Friday, dealing the Securities and Exchange Commission a rare high-profile setback.
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http://tsn.ca/nba/story/?id=284880
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07-17-2009, 11:00 PM
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#9
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Norm!
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Gordon Gekko: The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA. Thank you very much.
__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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