Mark Cuban Charged With Insider Trading

geekboy_x writes "The SEC today charged Mark Cuban with insider trading violations, alleging that he divested himself of stock in mamma.com before the stock was diluted via a public offering." Something tells me that the billionaire blogger won't be talking about this one publicly any time soon.

Comments

Re:Wrong, He Has a Blog Post On It

[Doc Ruby]

The fact that this occurred in June of '04 and he's being charged for it now implies that either it takes that long to build up evidence for a case or you don't hear about this until someone slips up.

Whatever happened happened in 2004, but he's being charged only in the last few weeks Bush can direct the SEC.

Funny how the other thing that happened recently was that Cuban just launched a website, BailoutSleuth looking into and organizing against the Bush/Paulson Wall Street bailout.

BTW, in America people are presumed innocent until proven guilty, especially when Bush has a political crusade at stake. Even if Cuban is guilty, it's pretty "coincidental" timing to start prosecuting him.

Re:why should we care?

[Doc Ruby]

Because Cuban is a billionaire Net entrepreneur. Including harnessing P2P for infrastructure, while publicly championing the technique's place on the Internet despite network operator and copyright holder intererence. He's also spoken influentially for realistic revisions to copyright, contrary to some of his obvious interests as a major copyright holder, as an informed Internet business guru.

He just got hit with an SEC suit by the outgoing Bush on 4 year old charges, right after he launched a website investigating and organizing against Bush's Wall Street bailout.

Those topics are all often popular on Slashdot.

Communism at work.

[Kaz Kylheku]

Man uses free market mechanisms to avoid losing three quarters of a million bucks, and Big Brother comes down on him.

I can't imagine not selling stock after learning of some upcoming bad news, by any means.

what are you supposed to do?

``Gee, I'm going to lose 750 thousand dollars just to be a law-abiding citizen, out of the goodness of my heart''.

This is no more wrong than counting cards at a black jack table.

Jail-translation

[ZarathustraDK]

alleging that he divested himself of stock in mamma.com before the stock was diluted via a public offering.

Will now turn into:

shrieking as his digestive-tract was filled with cock and "Daddy's" cum before the cock dilared his ass as it was publicly offered to other inmates

Ah ok, a bit far-stretch...FETCHED!