The owner of the Dallas Mavericks finds himself in a bind as the SEC is charging him with insider trading. The AP reports "Cuban owned 6.3 percent of Mamma.com's stock at that time and was
the largest known shareholder in the search engine company, according
to the SEC. The agency said Cuban knew the shares would be sold below
the current market price, and a few hours after receiving the
information, he told his broker to sell all 600,000 shares before the
public announcement of the offering.By selling when he did,
Cuban avoided losses exceeding $750,000, the SEC said in its lawsuit.
Montreal-based Mamma.com changed its name to Copernic Inc. in June 2007." The rest of the article can be read here.

Cuban Mark

November 17, 2008 In: Fleecing Fighters, People, Sports Comments (None)