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Tuesday, March 5th, 2013 at 12:55 pm  |  11 responses

Mark Cuban Loses Bid to Have Insider Trading Case Thrown Out


The SEC’s more than four-year old insider trading case against Dallas Mavericks owner Mark Cuban will proceed, as Cubes lost a bid to have the civil fraud lawsuit thrown out by the courts. Per Reuters: “U.S. District Judge Sidney Fitzwater in Dallas said the U.S. Securities and Exchange Commission may continue to press its more than four-year-old case against Cuban, the owner of the National Basketball Association’s Dallas Mavericks. In its November 2008 lawsuit, the SEC accused Cuban of selling his 6.3 percent stake in Mamma.com Inc for about $8 million in June 2004 after learning that the Montreal-based search engine company had been planning a stock offering. The regulator said Cuban was able to avoid more than $750,000 of losses on his sale of 600,000 Mamma.com shares. Stephen Best, a lawyer for Cuban, did not immediately respond to a request for comment. A Mavericks spokeswoman declined to comment. SEC spokesman John Nester said: ‘We look forward to proceeding with our insider trading case against Mr. Cuban in court.’”

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  • spit hot fiyah

    skinnyjeansidontgetit.com

  • spit hot fiyah

    he was involved in loose change? gangsta!

  • http://www.facebook.com/people/Mike-Gilbert/100001749589586 Mike Gilbert

    I’ve always felt like you should be allowed to “inside” trade. It seems to me that by the government blocking the flow of information, the prices of certain stocks are not priced as they should be

  • patrick

    leave him own…i believe insider trading is legal as i think it’s natural for information to be unequally deseminated

  • Louis Ray

    Amnesty that!

  • http://twitter.com/Jzakoni Sanchez

    corn ass

  • bike

    Me too. Inside information where one party has more information is legal in other markets like real estate.

  • Chukaz

    This is BS. Do they seriously think that Cuban would risk jail time to avoid a $750,000 loss? Like, seriously? He’s worth 2.3 billion. To him 3/4 of a million dollars is less than what a penny is to us. When I drop a penny i don’t bother to pick it up, as i have no use for a f*cking penny. To mark cuban $750,000 is LESS than a penny.

  • The Philosopher

    Wow.
    I think he misses Orlando, on the down low…

  • The Philosopher

    Wrong d@mn thread…
    Supposed to be on the Howard thread.

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