OT: WSJ: Cuban charged with Insider Trading

[SpanishFly]

by SEC, into the fire Mark. Just heard this on CNBC

 

[maxiep]

Re: WSJ: Cuban charged with Insider Trading

Mods, please move to OT.

Interesting. If true, Stern may use it as an excuse to force him to sell the Mavs.

 

[Sedatedfork]

Re: WSJ: Cuban charged with Insider Trading

I wonder if he was giving tips to Tim Donaghy

 

[SpanishFly]

Re: WSJ: Cuban charged with Insider Trading

Mods, please move to OT.

Interesting. If true, Stern may use it as an excuse to force him to sell the Mavs.

sorry Max, gotta get used to this board

 

[THE HCP]

Re: WSJ: Cuban charged with Insider Trading

Maybe he will trade Dirk to Paul for some Microsoft stock.

 

[The_Lillard_King]

Re: WSJ: Cuban charged with Insider Trading

Wow . . . I wonder if this (along with the economy) will make Cuban tighten up those purse strings.




Edit: Within hours of receiving this information, according to the complaint, Cuban called his broker and instructed him to sell Cuban's entire position in the company. When the offering was publicly announced, Mamma.com's stock price opened at $11.89, down $1.215 or 9.3 percent from the prior day's closing price of $13.105. According to the complaint, Cuban avoided losses in excess of $750,000 by selling his stock prior to the public announcement of the offering.

http://www.sec.gov/news/press/2008/2008-273.htm


I don't think 750K, interest and a penalty for 750K will have much of an impact of Cuban . . .

 

[BenDavis503x]

Re: WSJ: Cuban charged with Insider Trading

Mods, please move to OT.

Interesting. If true, Stern may use it as an excuse to force him to sell the Mavs.

Deputy Mod. Where is your gold star?

 

[hasoos]

Re: WSJ: Cuban charged with Insider Trading

The worse thing that will happen to him is he will be Martha Stewart'd. (In other words, minimum security prison, where they merely paint the walls on the ground, and chill out for a few months.)

 

[maxiep]

Re: WSJ: Cuban charged with Insider Trading

sorry Max, gotta get used to this board

No need to apologize. I was just helping you out. You'll figure this place out eventually.

 

[maxiep]

Re: WSJ: Cuban charged with Insider Trading

Deputy Mod. Where is your gold star?

Man, you have a raging case of hurtbutt.

 

[AgentDrazenPetrovic]

Re: WSJ: Cuban charged with Insider Trading

meh, fuck the SEC.

 

[SpanishFly]

Re: WSJ: Cuban charged with Insider Trading

meh, fuck the SEC.

SEC sucks, they were asleep at the wheel when all the Wal St creative finance BS/leveraging was goin on = hundreds of billions and even trillions in losses. And now they target Cuban for a few million - what the FUK is up with that?

 

[THE HCP]

Re: WSJ: Cuban charged with Insider Trading

meh, fuck the SEC.

Ya, I'm more of a Pac-10 guy myself.

 

[AgentDrazenPetrovic]

Re: WSJ: Cuban charged with Insider Trading

SEC sucks, they were asleep at the wheel when all the Wal St creative finance BS/leveraging was goin on = hundreds of billions and even trillions in losses. And now they target Cuban for a few million - what the FUK is up with that?

Yup. They just want a moral victory to seem like they're doing shit.

 

[BenDavis503x]

Re: WSJ: Cuban charged with Insider Trading

Mods, please move to OT.

Interesting. If true, Stern may use it as an excuse to force him to sell the Mavs.

Man, you have a raging case of hurtbutt.

Naw, I just like messing with you over the top forum nerds.

 

[Ed O]

Re: WSJ: Cuban charged with Insider Trading

Mods, please move to OT.

I've added "OT" but since it's NBA-related I'm leaving it in the main forum.

Ed O.