Follow TechBlips on Twitter
Mark Cuban Charged With Insider Trading of Search Engine Mamma.com
ReadWriteWeb —
... Four years ago, an eternity in internet time, Dallas Mavericks owner and controversial web thought leader Mark Cuban allegedly used inside information to dump all his stock in meta search engine Mamma.com the day before the company announced a round of fund raising that caused the value of stock in the company to drop dramatically. That's what the Securities and Exchange Commission says, at least, according to ...
Billionaire Mark Cuban Slapped With Insider Trading Charges By SEC
TechCrunch —
When you are a billionaire and you know a stock is going to down, your instinct might be to sell it. But if you know that the stock is going to tank because you are privy to insider information, it’s probably not a good idea to sell that stock. Entrepreneur Mark Cuban, who owns the Dallas Mavericks and is chairman of HDNet, finds himself facing insider trading charges from the SEC because of doing just that. Back in June, 2004, he sold 600,000 shares of search engine Mamma.com after he was asked by the company to participate in a dilutive follow-on offering.
Maybe he ...
Mark Cuban accused of insider trading
ZDNet Government —
... sales representative, Cuban called his broker in Dallas and told the broker to sell his entire 600,000 share Mamma.com position. He told the broker “sell what you can tonight andjust get me out the next day.” The complaint says that Cuban did manage to dump his entire holding before the PIPE announcement and that he was right: The PIPE was bad for him. By selling on insider information he saved himself a $750,000 loss. He is charged with Rule 10(b), 10(b)(5) and 17(a) violations.
How serious are the insider trading charges against Mark Cuban?
SiliconBeat » O’Brien —
Topic A for discussion this morning are the insider trading charges filed by the U.S. Securities and Exchange Commission against former “Dancing With The Stars” also-ran Mark Cuban. Oh, and he’s also the guy who owns the Dallas Mavericks, wants to buy the Chicago Cubs, and has an ego the size of Silicon Valley.
The complaint filed Monday contains the good, old-fashioned kind of allegations. You can read the full complaint here. In essence, the SEC claims that Cuban was an investor in the search engine Mamma.com. Back in 2004, ...
Mark Cuban faces insider trading complaint, fires back
VentureBeat —
With all of the layoffs hitting the tech industry, everyone’s in need of a diversion — you know, a news story that is sure to stretch out into months of messy public detail. That story may have arrived this morning: Mark Cuban, entrepreneur-hero and outspoken Dalls Mavericks owner, is being taken to court by the Securities and Exchange Commission for “insider trading.”
The S.E.C. complaint alleges that search engine Mamma.com had given Cuban confidential information about a pending stock offering, in June of 2004, that he used to sell his stock early and ...
Mark Cuban Is Charged With Insider Trading
NYT > Technology —
As anyone who follows the National Basketball Association knows, Mark Cuban , the Internet entrepreneur turned owner of the Dallas Mavericks basketball team, has never shied from a fight. But now the pugnacious billionaire is squaring off against his biggest adversary yet: the federal government. On Monday, the Securities and Exchange Commission filed a civil suit charging Mr. Cuban with insider trading for selling shares of a small Internet search company in 2004, just before its share price fell. Mr. Cuban saved himself a $750,000 loss, according to the complaint filed in United States ...
Oh, Mamma Mia Dot Com -- Copernic (CNIC) shares move on Cuban story
BloggingStocks —
... . The regulatory agency claims that Cuban sold shares of mamma.com, a Canada-based Internet search company, with the advance knowledge of a yet-to-be-disclosed private equity offering of company shares. ...
Mark Cuban versus SEC: Insider trading or insider politics
VentureBeat —
Billionaire entrepreneur Mark Cuban has fired a salvo back at the Securities and Exchange Commission today, after it charged him with insider trading yesterday. The SEC says it has evidence that Cuban broke his legal obligation to a company he had invested in, publicly traded search engine Mamma.com. The S.E.C. says that as a stockholder, Cuban broke his obligation to maintain confidentiality by selling his shares in the company in June of 2004, upon finding out it planned to offer a new stock offering that would dilute his ownership stake.
Today, Cuban has published a memo ...
Leapfish Launches Another Meta Search Engine No One Will Ever Use
TechCrunch —
Last I heard about Leapfish (this was a couple of years ago), they ran a useless but fun tool that provided you with a free appraisal for your domain name based on a variety of ratings and criteria. Now they’re back with an equally useless tool, this time without the fun part.
The company just revamped itself under the ownership of California-based DotNext, morphing into what they refer to as a “multi-dimensional information aggregator,” which is actually nothing more than yet another meta search engine. You know the kind: sites that pull together search results ...
Can you ditch Google for a metasearch engine?
Webware.com —
... Founded in 1996, the self-proclaimed "Mother of all search engines", Mamma Metasearch is one of the oldest metasearch engines on the Web and delivers results from a variety of search engines and specialty sites. Generally, Mamma performs well with simple queries, but as soon as searches become more complex, it tends to break down and only delivers results from Ask.com instead of the more prominent search engines the other metasearch engines use. ...
