Mavericks owner Mark Cuban, SEC set to face off in insider trading case Monday
Dallas Mavericks owner Mark Cuban was playing in a charity golf tournament in June 2004 when he received an email from the top executive at Mamma.com.
“Call me ASAP,” CEO Guy Fauré wrote.
Cuban, a self-made Dallas billionaire, was the largest shareholder of the Canadian Web search firm.
The eight-minute telephone conversation that followed is at the heart of one of the highest-profile and most expensive individual insider trading cases the Securities and Exchange Commission has brought to trial.
More at http://www.dallasnews.com/business/headlines/20130928-mark-cuban-and-the-sec-face-off-in-court-this-week.ece. The story is behind the paywall so you will need to google the headline of this thread to read the entire article.
[font color=green]After reading the story, it certainly seems like it was insider information to me. If the jury rules guilty then it will cost Cuban a few million on top of the legal fees he has paid for defense. Since this is a civil action Cuban is not at jeopardy of being incarcerated.[/font]
