Lawsuit accuses Dallas Mavericks owner Mark Cuban of diverting profits from arena [Archive]

CubanMustGo

07-20-2009, 03:51 PM

???

http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/072109dnbusperotcubansuit.22a0097.html

AP, can't post - gist of the story is that an ownership group headed up by Ross Perot Jr. accuses Mark of siphoning money from the arena to cover losses sustained by the Mavericks ... $29M in supposedly unauthorized loans.

$29M is like chicken feed to Cuban so this sounds iffy to me.

Thompson

07-20-2009, 05:44 PM

???

http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/072109dnbusperotcubansuit.22a0097.html

$29M is like chicken feed to Cuban so this sounds iffy to me.

How much was it that he supposedly saved through insider trading? I think it was less than a million. Of course the case was thrown out, but he did take some risk to save that money; $29 million is a whole lot more.

People sometimes lack perspective also; he might have focused on the $29 million number more than the risk to the rest of his future and fortune. I'm not saying he did this, I'm just saying the fact that it was (proportionally) little compared to his fortune doesn't mean he wouldn't do something stupid to try to save it.