Mark Cuban Charged With Insider Trading

Mark Cuban Charged With Insider Trading

www.streetinsider.com

CNBC reported that Mark Cuban sold his 600,000 shares which saved him $750,000, after Cuban had insider knowledge on a dilutive equity offering.

(visit the link for the full news article)

Well . . . somebody trading with 'insider' knowledge.

Is it just me, or does it seem that prosectution of these kinds of things are somewhat selective.

Granted Cuban is off the wall, but how many of these corporate bigwigs who get granted shares of stock as part of their compensation packages do the same kind of thing.

Or is it just Cuban and Martha Steward who are evil enough to do it?

YOu can take that last part with any amount of sarcasm you so desire!!!!

www.streetinsider.com
(visit the link for the full news article)

Isn't he a billionaire?? How greedy do you have to be to do something like this to save only $750,000? Hope he sits in jail for a little bit.

Originally posted by GoalPoster

Is it just me, or does it seem that prosectution of these kinds of things are somewhat selective.

Somewhat selective?

The SEC is probably more corrupt than the people they are suppose to be catching.

What the hell was he supposed to do? They invited him to come to the stock offering.

I think the company is more liable to be sued from this. if they invite all their large share holders, and then they charge any of them who sell afterwards with insider trading, its black mail.

ths prevents any of their large share holders from selling the company stock. the company did this so they would forcefully retain share holders while they went ahead and diluted their shares.


they basically said either hold our stock or you have to buy more..BUT .if you don't or sell , we will charge you with insider trading

he wont be prosecuted. it was a trap. the Company was clearly not in the right here.



[edit on 17-11-2008 by ghostlandseller]

Cuban is behind the website "bailoutsleuth". I am sure the treasury is not happy with that website. Call you buddies at the SEC and have him investigated to discredit him.

I would venture to say that Cuban's flamboyance is catching up with him.

He pissed someone off. He seems to be pretty good at that.

I agree with the selective statement. All the banks had meetings with eachother and looked at eachothers books and in collusion with the government is trying to plan an economy as we speak to help make the banks all sorts of money. Now talk about insider trading. If Cuban did it he should be punished Im not making excuses but please lets go after the real criminals and the real money. This is only 700k and in the mix of things that really is a small amount.

Cuban, one of the five finalists to buy the Chicago Cubs pro baseball team, faces civil charges by acting on nonpublic information and selling shares of Mamma.com to avoid more than $750,000 in losses, the SEC alleged.

news.yahoo.com...

Hopefully, Mark enjoys his time incarcerated. But then he can make another bomb of a movie about the torture he was subjected to.

Come on now. You know Cubans always get the political favors.

A slap on the wrist and a big cigar for Mark on this one.

Originally posted by hikix
Isn't he a billionaire?? How greedy do you have to be to do something like this to save only $750,000? Hope he sits in jail for a little bit.

Do you bend over to pick up a $10?

Originally posted by HunkaHunka

Do you bend over to pick up a $10?

No I crouch. But then again, I'm not worth a billion dollars. What do you mean by that question exactly?

mark cuban is a billionare. i doubt he cares about 750,000 that he would risk going to prison for it.

Yes kind of sounds like the cat that drops the dead gopher at the front porch,just showing they are doing their jobs,I think they like to use him as an example,good point I'll bet there were a million others who did the same

Ok, first of all this is a civil charge against Cuban at this point. He does not face prison time at all, as much as I know that disappoints those of you with an obvious prison sex fetish. At worst Cuban would have to pay back the .75M he saved by selling the stock, plus whatever fines the court imposed. I wouldn’t underestimate Cuban in this. I know that he’s weird and a non-conformist, but I don’t think he would have done this if he didn’t think he could win. Much ado about nothing IMO.

Originally posted by Doomsday 2029

Originally posted by GoalPoster

Is it just me, or does it seem that prosectution of these kinds of things are somewhat selective.

Somewhat selective?

The SEC is probably more corrupt than the people they are suppose to be catching.

I agree, Mark Cuban should be the last of their worries with all the banking scandals going on....but I do hate Mark Cuban, so I do hope he goes to jail. He is one of the dumbest and most arrogant Billionaires for sure. Seeing him go to jail would make my day.

I just found something that brings the whole conspiracy light even more into focus.

In what the Times characterized as a "purported email" from an SEC staffer to Mr. Cuban, it is revealed that there was bad blood between the agency and Cuban not just as a result of the accusations about his sale of stock in mamma.com. Cuban is taken to task for his financial backing of the series of documentaries entitled, "Loose Change." The films set forth a case for a conspiracy among individuals in the U.S. government to bring about the destruction of the World Trade Center towers on September 11, 2001.

The staffer sees Cuban's anger about the investigation as ironic since as the text printed by the Times says, a man who finances pie-in-the-sky conspiracy theories about President Bush has no right to complain about what he considers to be a witch hunt. And the emailer wonders how SEC Chairman Christopher Cox would feel about Cuban if he knew about his investment in the films. Wow. And we thought that the Sarah Palin "unpatriotic" claims about President-elect Obama were only made in the heat of the campaign battle.

Originally posted by GoalPoster



Well . . . somebody trading with 'insider' knowledge.

Is it just me, or does it seem that prosectution of these kinds of things are somewhat selective.

Granted Cuban is off the wall, but how many of these corporate bigwigs who get granted shares of stock as part of their compensation packages do the same kind of thing.

Or is it just Cuban and Martha Steward who are evil enough to do it?

YOu can take that last part with any amount of sarcasm you so desire!!!!

www.streetinsider.com
(visit the link for the full news article)

Yep its all purely selective.
In reality if they investigated and prosecuted all cases of suspected insider trading half of Washington would be in jail.
They all do it, they are all lying thieves, and will get whats coming to them when they leave this place.

Insider trading rules truly are ridiculous when you really think about them. People don't become Billionares by not giving a damn about $750,000. The amount he saved is immaterial to the fact that it is completely counter intuitive for a man who knows he's going to lose some amount of money to be expected to just sit there doing nothing while he loses that money when he could act quickly and save himself from the loss. Yeah, it may not be "fair" and it may "suck" for a person to use insider trading, but IMHO if they weren't fishing for it actively and instead merely acted on something they were told by the company, the blame falls squarely on the company's shoulders for having loose lips.

"Let's say he is guilty, I'm not saying he is, I DON'T CARE!
I care about multi billion dollar fraud and CEO's, and companies that are just lying and killing investors, and where is the indictments, and where is the fear of prosecution, and where is the fear of detection?
It's not there.!!"

Barry Minkow on FOX