Dallas Mavericks owner Cuban accused of insider trading

[ClingingMars]

SEC accuses Mavs owner Cuban accused of insider trading

http://sports.espn.go.com/nba/news/story?id=3708124

WASHINGTON -- The Securities and Exchange Commission has accused Dallas Mavericks owner Mark Cuban of insider trading.

The Wall Street Journal on Monday reported that Cuban is alleged to have dumped shares in Mamma.com upon learning it was raising money in a private offering.

In a civil action, the SEC claims Cuban sold his entire 6 percent stake in late June 2004 after learning that Mamma.com was raising money through a private investment in a public entity (also known as PIPE), the Journal reported.

The following day, Mamma.com announced the PIPE financing and shares of the company dropped by more than 10 percent. By selling his ownership stake, Cuban avoided more than $750,000 in losses, the Journal reported.

[sribb43]

all that will happen is that he pays back the losses he avoided and the penalties...the end

[phyzik]

he always has been a cheater....

[gaKNOW!blee]

martha stewart anyone?

[sribb43]

he always has been a cheater....

he hasnt won anything to be considered a cheater

[dickface]

Hey Mark,

http://www.popamericana.com/!/watch%20your%20cornhole.jpeg

Watch out for your cornhole, bud.

[IronMexican]

Hey Mark,

http://www.popamericana.com/!/watch%20your%20cornhole.jpeg

Watch out for your cornhole, bud.

:rollin

[Armando]

:lmao

[Indazone]

Will he have to sleep with one eye open and his ass to the wall while he's in prison?

[Gino]

:lmao:lmao:lmao:lmao:lmao:lmao:lmao:lmao:lmao:lmao :lmao


And Christmas comes early this year!!!!!!!!!!!!!!!

This has to be the most dysfunctional organization in the history of sports.

Can't wait to read about it in his awesome "MavsBlog".:lol

[SpursFanFirst]

Why would he avoid prison in this situation?

[monosylab1k]

I hate all black people

[Shank]

Why would he avoid prison in this situation?

Because, as of now, it's only a civil complaint.

[SpursFanFirst]

Because, as of now, it's only a civil complaint.
Oh, OK..thanks

[Findog]

:lmao:lmao:lmao:lmao:lmao:lmao:lmao:lmao:lmao:lmao :lmao


And Christmas comes early this year!!!!!!!!!!!!!!!

This has to be the most dysfunctional organization in the history of sports.

Can't wait to read about it in his awesome "MavsBlog".:lol


http://spurstalk.com/forums/showthread.php?t=104962

[dirk4mvp]

I hate coloreds, fags, and jews. They're unamerican.

[ClingingMars]

just another reason to hate Mark Cuban. gotta love it.

-Mars

[Findog]

The complaint is hilarious:

http://gawker.com/5090832/how-not-to-be-an-inside-trader


To set the scene: The CEO of a company Cuban partially owns calls him up with (confidential) bad news; Cuban gets pissed, knowing the news will sink the stock price; but he just received confidential information, so he can't sell! Here's how they say he handled this financial quandary:

http://cache.gawker.com/assets/images/gawker/2008/11/markcuban2.jpeg

http://cache.gawker.com/assets/images/gawker/2008/11/markcuban3.jpeg

http://cache.gawker.com/assets/images/gawker/2008/11/markcuban4.jpeg

[ClingingMars]

The complaint is hilarious:

http://gawker.com/5090832/how-not-to-be-an-inside-trader



http://cache.gawker.com/assets/images/gawker/2008/11/markcuban2.jpeg

http://cache.gawker.com/assets/images/gawker/2008/11/markcuban3.jpeg

http://cache.gawker.com/assets/images/gawker/2008/11/markcuban3.jpeg

do you think he even realized what he was doing was illegal? sure doesn't seem like it.

-Mars

[Findog]

do you think he even realized what he was doing was illegal? sure doesn't seem like it.

-Mars

Read the complaint - of course he knew what he was doing was illegal. That's why he was pissed, because he was receiving information he couldn't legally act on.

[ElNono]

He's just a Maverick... oh,wait..

[Indazone]

Tell him to bring lots of vasoline with him when he is in the pen.

[MrChug]

he hasnt won anything to be considered a cheater

You said it mavfan, we didn't.

[Bandwagon Fan]

He can call Martha Stewart and find out how she coped with time in prison. I believe that one started out as a civil suit too :lol

[Gino]

Cuban should be in prison for creating that soft ass team.

[monosylab1k]

Rape is fun, but it's better when you're also strangling her to death.

[Obstructed_View]

$750k is like 4/100 of a percent of his net worth. Not sure why he'd risk going to jail over something like that. For illustration, if your net worth were 250 thousand dollars, that's the equivalent of about 100 bucks. My math may be wrong but I'm pretty sure I'm close.

[Findog]

$750k is like 4/100 of a percent of his net worth. Not sure why he'd risk going to jail over something like that. For illustration, if your net worth were 250 thousand dollars, that's the equivalent of about 100 bucks. My math may be wrong but I'm pretty sure I'm close.

Well, it's a civil complaint for the time being, so as of yet, no risk of jail time.

[Obstructed_View]

Well, it's a civil complaint for the time being, so as of yet, no risk of jail time.

There may be down the road. Would you even take a chance over such a small amount of money? I wouldn't. That may end up being his defense.

[ClingingMars]

so if it's a civil case and he's guilty, what does he lose? just the stocks?

-Mars

[Findog]

There may be down the road. Would you even take a chance over such a small amount of money? I wouldn't. That may end up being his defense.

http://clusterstock.alleyinsider.com/2008/11/why-would-he-do-that-

Cuban is many things, but dumb is not one of them, so it's hard to believe. Then again, sometimes the extremely smart and wealthy come to believe ordinary rules and laws don't apply to them, so who knows?

[monosylab1k]

http://myespn.go.com/blogs/truehoop/0-36-63/-Mark-Cuban-s-Going-to-Have-to-Write-a-Big-Check-.html

This is much different than the Martha Stewart case. Mark Cuban hasn't tried to lie or cover up this incident at all, in fact he wrote about exactly what he did in his blog. He'll have to pay $1 Million and be done with it.

[Obstructed_View]

http://clusterstock.alleyinsider.com/2008/11/why-would-he-do-that-

Cuban is many things, but dumb is not one of them, so it's hard to believe. Then again, sometimes the extremely smart and wealthy come to believe ordinary rules and laws don't apply to them, so who knows?

Yeah, it's possible. You know I don't credit him as being overly bright, but I just can't imagine he'd try it if he knew about it. Given his history of meddling, I don't think something like that could happen without his knowledge. The difference between him and Martha Stewart is that she committed purjury to try to cover it up, and he appears to be cooperating.

[timvp]

Cuban lying about trades. I'm shocked.

[Obstructed_View]

Cuban lying about trades. I'm shocked.

I bet Avery was the one who wanted him to do it.

[dirk4mvp]

I bet Avery was the one who wanted him to do it.


You pay attention to the Mavs more than you do your own team.

[Findog]

I bet Avery was the one who wanted him to do it.

Avery begged Cuban to buy all those shares in Mamma.com and then when it looked like the investment would go south, he washed his hands of it and claimed Cuban was the one who was behind the stock purchase all along.

[Findog]

Guess you could say Cuban is a Mamma's.com boy?

Get it? See what I did there? Get it? See what I did there?

[timvp]

Avery begged Cuban to buy all those shares in Mamma.com and then when it looked like the investment would go south, he washed his hands of it and claimed Cuban was the one who was behind the stock purchase all along.

Exactly. :lol

[jack sommerset]

i knew avery had to be involved

[Thunder Dan]

http://img.perezhilton.com/wp-content/uploads/2008/11/sab_hmunster_markcuban__oPt.jpg

[ElNono]

Guess you could say Cuban is a Mamma's.com boy?

Get it? See what I did there? Get it? See what I did there?

Was...

[Biernutz]

Hey Mark --meet your new cellmates----

http://i210.photobucket.com/albums/bb270/systime/Gifffs1234/avatar_3475.gif

[Obstructed_View]

You pay attention to the Mavs more than you do your own team.

I live in Dallas and comment on the threads. The sad part is that I know so much more about your team than you do, but then I watched them when they sucked, so I have a major head start on you.

[Obstructed_View]

Avery begged Cuban to buy all those shares in Mamma.com and then when it looked like the investment would go south, he washed his hands of it and claimed Cuban was the one who was behind the stock purchase all along.

:lol

[dirk4mvp]

I live in Dallas and comment on the threads. The sad part is that I know so much more about your team than you do, but then I watched them when they sucked, so I have a major head start on you.


No, you don't.


Fail.

But if the only thing you got is weak bandwagon talk, LOL, Spurfan in Dallas.


But at least you're not the only Spurfan who's obsessed with the Mavs on this board.

[Findog]

OV does live in Dallas, FWIW...and so will I in 3 weeks! That's right, I'm moving from southwest Fort Worth to the Bishop Arts area. I'm gonna be just another run of the mill Oak Cliff hipster douchebag!

[dirk4mvp]

Are there prime cougars there?

[Findog]

Are there prime cougars there?

Cool River Cafe, brother. Addison and Uptown are the Cougar's lair.

[Obstructed_View]

I used to live about a block from the Cool River in Las Colinas. That was a great place to live because you could take a taxi to Cowboys games.

[Roxsfan]

he hasnt won anything to be considered a cheater

losers can still cheat i d i o t

[Findog]

Breaking News:

Mark Cuban is threatening to release fear toxin into the DFW water supply if the SEC doesn't drop its civil complaint against him.

[DPG21920]

I live in Dallas, but I am moving back to SA in a week

[leemajors]

Cool River Cafe, brother. Addison and Uptown are the Cougar's lair.

same here in Austin - Thursday night is Ladies Night! :toast

[duncan228]

SEC charge of insider trading hurts Cuban's 'every fan' reputation (http://sportsillustrated.cnn.com/2008/basketball/nba/11/18/bc.bkn.markcuban.fallou.ap/index.html)