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Charged With Insider Trading!!!!

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Dancing With the Stars alum and Dallas Mavericks owner Mark Cuban has just been charged with insider trading by the SEC (the Securities and Exchange Commission)!!!!

Upon learning it was raising money in a private offering, Cuban allegedly sold dumped his shares in Mamma.com, also known as Copernic.

The SEC alleges in a civil action that Mr. Cuban sold his entire 6% ownership stake on June 28, 2004, after learning that Mamma.com was raising money through a private investment in a public entity, or PIPE. The next day, on June 29, the company announced the PIPE financing and shares of the company dropped by more than 10%. By selling his stake, the SEC alleges, Mr. Cuban avoided more than $750,000 in losses.

In a PIPE transaction new shares are issued at a discount to the current trading price. An announcement of a PIPE transaction is often followed by a drop in the stock price as shareholders anticipate their stake will be diluted.

Maybe he can get some advice from Martha Stewart???

[Image via WENN.]

    Posted: Nov 17, 2008 at 11:34 am / Email this  »
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    See All 41 Comments

    41 comments to “Charged With Insider Trading!!!!”



    1. 1

      He'll make a nice bitch for Bubba!



    2. 2

      I knew that guy was shady.



    3. 3

      who cares!



    4. 4

      MARTHA CAN GIVE HIM SOME JAIL TIPS I AM SURE!



    5. 5

      who watches that stupid show…..i really dont get it…..



    6. 6

      Don't drop the soap, Mark!



    7. 7

      Spread em Douchebag!



    8. 8

      Where's "Parramore"???????



    9. 9

      It's Fred Flintsone!



    10. 10

      What a punk… and believe me he is going to learn a whole new meaning to that… LOL… all thes celebrities and the rich engage in this insider trading - but who fucking cares right - hope he takes it in the as -care about that! LOSER



    11. 11

      Would you please smack my ass? And leave a bruise.



    12. 12

      HOOK UP's should NOT be illegal….. fucking stupid



    13. 13

      Did the fuckin' greedhead really need the coin? HELL NO!! Put the trial and assfuckin' to follow on HD Net.



    14. 14

      Re: Melissa is always right. – *Flintstone, FUCK.



    15. 15


    16. 16

      There you are (Parramore) … You are one sexy man, I had to tell ya



    17. 17

      I love Mark Cuban he is awesome, I think he will get out of it.



    18. 18


    19. 19

      Re: _Alice_ –
      Alice, you are so naughty girl! Cute though. Don't ever mess with the feds.



    20. 20

      Martha Stewart was never found guilty of "insider trading". She went to jail for lying to Federal Investigators. Shortly after being released for billion dollar home confinement, she went on the internet and downloaded the instructions on how to remove her "anklet".



    21. 21

      Re: Vince will Shamwow your ass – WHAT UP!!!!!!!!



    22. 22


    23. 23

      Re: JohnnyCakes – Thanks;)

    24. Wrenn says – reply to this


      24

      Loves me some Mark Cuban!!

    25. MP says – reply to this


      25

      Karma's a bitch, Mr. Cuban. You reap what you sow.



    26. 26

      TIME TO GET OUT OF THE COUNTRY MARK!



    27. 27

      Ya know, I don't follow basketball or DWTS however I'm in Dallas and I've heard several radio interviews with Mark Cuban. He is the most down to earth guy ever. He doesn't let his money go to his head. He doesn't forget about the "little people" and he is always in a good mood. (w/ that much $$ who wouldn't?) So…if looking out for his cash is his worse crime than I say fine him and let him walk. He really is good people.



    28. 28

      Re: _Alice_ – Re: LettyB – Re: Big Black Dick –
      hi alice, hi letty, how's
      it hanging BBD?
      Richard Hatch from Survivor I. is still in a
      Federal Prison for Tax Evasion..
      and he's gay, so I'm sure
      he's loving it.
      by fukards.

    29. Scrib says – reply to this


      29

      The dude always comes off as a shady sleazeball.



    30. 30

      There was always something about this guy that rubbed me wrong!
      I guess Donald Trump was right all along!



    31. 31

      Is this a recent pic? FUCK he got fat as a whale, stupid rich fuck!



    32. 32

      I LOVE MARK CUBAN!!!



    33. 33

      EWWWWWW! What a disgusting picture of the chump.



    34. 34

      .
      .
      TIME FOR ANOTHER MARTHA STEWART SCAPEGOAT!!!
      .
      .



    35. 35

      What goes around comes around. Karma's a bitch Mark. Go Lakers!



    36. 36

      Re: NoHollaBackGirl – WTF you talking about retard? Trust me when I say that I doubt that Cuban gave two shits about 750K when he is worth 2.8 Billion. He is a great guy and very good to the impoverished children of the Dallas area. He will be exhonerated.



    37. 37

      Re: NoHollaBackGirl – I guess Jerry Buss being a piece of shit drunk is any different huh? I hope he gets 12 inches of black dick up his ass. Oh and Mark Cuban has MORE cash than he does. SUck it!



    38. 38

      GOOD I'M GLAD
      I HOPE THEY FUCK HIM HARD IN PRISON….HE'S SUCH AN ASSHOLE



    39. 39

      HAHAHAHAHAHAH
      I'M SO GLAD I'M SO GLAD HAHAHAHAH
      GO SPURS GO



    40. 40

      Re: Death is my Gift –
      WHATEVER
      WE DON'T LIKE THAT MOTHER FUCKER OVER HERE IN ………….SAN ANTONIO
      HE CAN CLEAN UP OUR RIVER SINCE HE THINKS IT'S DIRTY



    41. 41

      Hey Perez–

      Cuban wasn't actually "charged" with insider trading. This is a civil suit brought by the SEC. Martha Stewart, on the other hand, was charged in a criminal action. Unless the U.S. Attorney's office charges him with the crime, he won't go to jail.