The Wall Street Journal reports this morning the SEC (Securities and Exchange Commission) has filed Insider Trading charges against Mark Cuban. The charges reportedly stem from unloading shares of Mamma.com (after learning of a private offering funding).
The SEC believes that Cuban allegedly sold his 6% ownership just before a public announcement which saw shares of Mamma.com drop 10%. The sale of shares saved Cuban around $750k.
For more info, go directly to the source and read the Wall Street Journal’s post.
Mark Cuban is the owner of the Dallas Mavericks and Chairman of HDNet. Appropriately, his post recent blog post is titled, “I hate to lose.“
New blog post: Mark Cuban being charged with Insider Trading http://tinyurl.com/6fd2bs
Fred Posner
17 Nov 08 at 4:56 pm