Mark Cuban Insider trading

[hbk409]

Just heard on MSNBC that Mark Cuban is accused of inside trading.

 

[HD MM]

Just heard on MSNBC that Mark Cuban is accused of inside trading.

Yup. Something about "mamma.com"

Wonder if he'll get the same treatment as Martha Stewart?

http://www.marketwatch.com/News/Story/Story.aspx?guid={4AB4CF40-63FD-4CA2-809F-C780A77D7D64}

 

[KCK_Halo]

No wonder MLB said there was no way he'd get hold of the Cubbies. Maybe THEY had insider information, too????

 

[HD MM]

No wonder MLB said there was no way he'd get hold of the Cubbies. Maybe THEY had insider information, too????

I concur my friend. Suddenly everything makes perfect sense.

 

[goaliebob99]

The suite is based on hearsay. Mama.com says that they gave him insider info and he bailed on them. It's going to be hard to prove that they gave him insider info based on hearsay, unless they recorded the conversation or had it written down, I don't see this going anywhere. How do we not know that they are pissed because he sold and they are trying to conjor up some story to cost him money because he baild on them as an investor. Espn has the lawsuite on their site and it says that cuban held a 6 percent stake at the time when he sold.

 

[sampatterson]

Hopefully it is not true.

 

[Skyhi]

Wonder if he'll get the same treatment as Martha Stewart?

http://www.marketwatch.com/News/Story/Story.aspx?guid={4AB4CF40-63FD-4CA2-809F-C780A77D7D64}

No. Luckily for him, he only faces civil penalties. No criminal charges.

 

[Skyhi]

The suite is based on hearsay. Mama.com says that they gave him insider info and he bailed on them. It's going to be hard to prove that they gave him insider info based on hearsay, unless they recorded the conversation or had it written down, I don't see this going anywhere. How do we not know that they are pissed because he sold and they are trying to conjor up some story to cost him money because he baild on them as an investor. Espn has the lawsuite on their site and it says that cuban held a 6 percent stake at the time when he sold.

This isn't hearsay. Hearsay (in its simplest form) would occur if goaliebob went to court and testified that mamma.com's CEO told him that the company gave Cuban inside info. If mamma.com's CEO goes to court and testifies that he gave insider info to Cuban it is not hearsay....its just testimony that would be weighed by the jury.

If I were a betting man, I'd guess Cuban either settles out of court or is found liable at trial and forced to pay some sort of damages. The feds *usually* don't bring cases with weak facts.

 

[HD MM]

This isn't hearsay. Hearsay (in its simplest form) would occur if goaliebob went to court and testified that mamma.com's CEO told him that the company gave Cuban inside info. If mamma.com's CEO goes to court and testifies that he gave insider info to Cuban it is not hearsay....its just testimony that would be weighed by the jury.

If I were a betting man, I'd guess Cuban either settles out of court or is found liable at trial and forced to pay some sort of damages. The feds *usually* don't bring cases with weak facts.

Bingo. The Feds have to have dirt for this to be brought up.

 

[CharlesO]

Cuban issue a statement from his lawyers:

The SEC « blog maverick

From the blog:

Mr. Cuban stated, “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.”

 

[mccoyrj]

I don't care for Cuban. Hope he gets the Martha Stewart treatment, but since it's civil case I'm guessing he won't.

 

[SamCdbs]

The answer to this comes, oddly enough, from Randy Moss. A couple of years ago, Moss was fined $25K for something or another, and he was asked about it and said something like "Straight cash, homey, what is 25 grand to me? To me?"

The feds want to fine a man that has over a billion dollars 750K. Write them a check. Straight cash.

 

[Skyhi]

The answer to this comes, oddly enough, from Randy Moss. A couple of years ago, Moss was fined $25K for something or another, and he was asked about it and said something like "Straight cash, homey, what is 25 grand to me? To me?"

The feds want to fine a man that has over a billion dollars 750K. Write them a check. Straight cash.

hahaha

 

[vurbano]

Yup. Something about "mamma.com"

Wonder if he'll get the same treatment as Martha Stewart?

He should but he won't. Its only a civil case.

 

[salsadancer7]

Everybody in HERE knows NOTHING about what the FEDS have or don't have. Let's wait till it gets through the court system before everyone brands him the NEW Martha Stewart...