Leave a Comment

Cuban To Fight Insider Trading Charges
BARRONS.com: Tech Trader Daily — On his blog, Mark Cuban said he intends to fight SEC civil charges that he engaged in insider trading in connection with his trading in securities of Mamma.com. “This matter, which has been pending before the Commission for nearly two years, has no merit and is a product of gross abuse of prosecutorial discretion,” Cuban said in a statement republished on his blog. Cuban says he intends “to contest the allegations and to demonstrate that the Commission’s claims are infected by the misconduct of the staff of its Enforcement ...

SEC Charges Tech Mogul Mark Cuban With Insider Trading
InformationWeek - All Stories And Blogs — ... public, the SEC said. "Well, now I'm screwed. I can't sell," Cuban allegedly told Mamma.com's CEO during a phone call about the matter, according to the SEC's complaint. "Less than four hours later, Mr. Cuban betrayed that trust by placing an order to sell all his shares," SEC deputy director Scott Friestad said in a written statement. Cuban sold off 600,000 shares in Mamma.com prior to the announcement of the dilutive stock offering, according to the SEC. In a blog post Monday, Cuban denied the charges . "I am disappointed that the commission chose to bring this case ...

Mark Cuban ‘insider trading’ charge
p2pnet news — ... “I am disappointed that the Commission chose to bring this case based upon its Enforcement staff’s win-at-any-cost ambitions,” says Cuban on his site, Blog Maverick, adding: ...

Cuban's Response To Insider Trading Charges: 'Wish I Could Say More'; Lawyer Says 'No Merit'
paidContent — ... by the SEC is limited to one line on BlogMaverick: "I wish I could say more, but I will have to leave it to this, and let the judicial process do its job." His official statement in the press release that follows the note: "I am disappointed that the Commission chose to bring this case based upon its Enforcement staff's win-at-any-cost ambitions. The staff's process was result-oriented, facts be damned. The government's claims are false and they will be proven to be so." ...

SEC calls technical foul on Mark Cuban
GMSV — ... started the conversation by telling Cuban the information was confidential, and Cuban acknowledged that being so advised left him “screwed.” Cuban is contending he was never told the information was privileged. And on that point rests the case, because within hours of that call, Cuban sold off all of his Mamma.com stock, and by doing so, the SEC alleges, he avoided more than $750,000 in losses when the PIPE plan was announced the next day and the share price dropped 9 percent. The brief response from Cuban’s lawyer suggests that the game plan is to play defense aggressively. ...

Mark Cuban Charged with Insider Trading
The Inquisitr » Technology — ... with Insider Trading by the Securities and Exchange Commission (SEC). According to a statement from the SEC, the complaint alleges that in June 2004, Mamma.com Inc. invited Cuban to participate in the stock offering after he agreed to keep the information confidential. The complaint further alleges that Cuban knew that the offering would be conducted at a discount to the prevailing market price and that it would be dilutive to existing shareholders. Cuban has responded on his blog with a set statement from his lawyer, nothing that he can’t say more at this ...

Cuban Could Be In for a Long, Ugly Fight
Wired: Epicenter — ... the SEC has liked to make examples of well-known individuals -- such as Martha Stewart -- because it attracts attention to the subject," says Alexander Bono, Chair of Securities Litigation in the Philadelphia office of Schnader Harrison Segal & Lewis. "If they get attention, they get the word out that they're vigorously protecting the market from insider trading," Bono said. "It's part education and part law enforcement." Cuban is already making noises about fighting the charges, while the SEC has indicated that insider trading is a ...

How serious are the insider trading charges against Mark Cuban?
SiliconBeat » O’Brien — ... This afternoon, Cuban posted a press release on his blog noting, “I wish I could say more, but I will have to leave it to this, and let the judicial process do its job.” In the release, Cuban responds: ...

Why The Case Against Cuban Smells Fishy [GigaOM]
GigaOM Network — ... .” On his blog, the normally voluble Cuban simply accused the SEC of acting on “win-at-any-cost ambitions” and a process that “was result-oriented, fact be damned.” Still, it’s not looking good for him at all. ...

SEC Charges Mark Cuban Of Insider Trading
Pulse2 - Technology News And Reviews — ... If Cuban did not sell his shares, then he would have had $750,000 in losses according to the accusations.  Cuban responded to the allegations on his blog: ...

Yang, Cuban, and the Limits of Entrepreneurship
Know It All — ... at Yahoo!, and Mark Cuban's problems with the SEC? Both involve technology entrepreneurs who overreached, or are alleged to have done so. Yang, by insisting that he could run the company he founded. Cuban, allegedly, for acting as if the rules did not apply to him. It's a cliche of the industry, and of business in general, that starting a business is no guarantee of managerial competence. Yet creators often seem compelled to prove themselves as managers, or to keep taking risks long after they've reached a pinnacle of success. Yang proved to be no match for the dealmakers ...

Mark Cuban Alleges SEC Misconduct
AppScout — ... Cuban fired back with a a blog post, which initially reads like standard boilerplate: "I wish I could say more, but I will have to leave it to this, and let the judicial process do its job," Cuban said. ...

Mark Cuban Proclaims Insider Trading Innocence
WebProNews Feed — ... Super lawyer on his side After being accused of insider trading by the SEC, Mark Cuban's done the smart thing and stayed fairly quiet so far. Just the same, one short announcement has given a few clues as to what's going on in relation to the Mamma.com charges. For example: Cuban's relative silence appears to be a taking-the-advice-of-his-lawyer situation. On Cuban's blog, an official statement appeared, and the name of ...

Mark Cuban Can’t Help Himself, He’s Going To Fight The SEC In Public
TechCrunch — ... Or rather, he is letting his lawyers fight the case publicly on his behalf by printing their memos on his blog. Yesterday, he posted a response from his lawyer to the SEC complaint in which stated: ...

Mark Cuban takes off the muzzle and responds to SEC case
SiliconBeat » O’Brien — ... long. It only took Mark Cuban one day to break his monastic vow of silence. On Monday, the U.S. Securities and Exchange Commission filed an insider trading case against Cuban. The feds claimed Cuban received confidential information from the CEO of Mamma.com and turned around and dumped his shares, saving $750,000 when the stock dropped the next day. Perhaps the biggest shock of all came next: Cuban wrote on his blog that he would say nothing beyond issuing a statement about the charges. Bo-ring! Fortunately, that self-imposed ...