|Mark Cuban and the SEC||11.17.08 at 10:56 am ET|
Just finished reading the complaint against Mark Cuban, owner of the Dallas Mavericks, that was filed by the Securities and Exchange Commission today. The SEC (not the one with Knowshown Moreno and Tim Tebow) is charging Cuban with insider trading and asking for 750K in connection with a PIPE (econ talk for when a public company asks for money).
The gist of the argument is Cuban sold his shares in something called mamma.com (now known as Copernic) before he was legally allowed to divest after learning information about the PIPE. That would be ‘insider trading.’
Government documents are always fun, so let’s see if there’s anything in the complaint that might make our Monday more interesting. Read the rest of this entry »