Dandy Jack
TMF Expert
- Joined
- May 17, 2002
- Messages
- 379
- Points
- 0
Marky Mark Cuban faces a tough opponent Martha Stewart had a rough time with almost the same issues...
Bud Selig and Major League Baseball opposed MarK buying a Major League baseball Team...
No team in Chicago for Mark!!! Even if he has the money...
Sometimes money is not enough!
Some think he's too cocky for the League of a closed private group. Major League Baseball
has been able to avoid all anti-trust laws... The owners are a close knit group...
Is Mark being set up? What do you think? did he just do something dumb?
IN THE UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF TEXAS
DALLAS DIVISION
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff, § Civil Action No. 3:08-CV-2050-D
VS.
MARK CUBAN,
Defendant.
MEMORANDUM OPINION
AND ORDER
In this civil enforcement action brought by plaintiff Securities and Exchange
Commission (“SEC”) against defendant Mark Cuban (“Cuban”) under the misappropriation theory of insider trading, Cuban moves for summary judgment.
Although the question whether Cuban is entitled to summary judgment is in some respects a close one, the court concludes that the SEC is entitled to present its case to a jury. The court therefore denies Cuban’s motion.
The S.E.C. filed a civil lawsuit against Mr. Cuban in 2008, He was accused of trading on confidential information when he sold his stake in Mamma.com, a small Internet search company, in June 2004, just before it announced news that caused its stock price to plummet.
Mamma.com’s chief executive had asked Mr. Cuban, who already owned about 6 percent of the company, if he wanted to buy shares in a new share offering. According to the S.E.C., Mark Cuban did not buy any of the new shares.
However
The SEC states that the very next day, Mark Cuban dumped all of his shares, thus avoiding a $750,000 loss.
Is that insider trading???
Maybe according to The SEC...
The S.E.C. said that Mr. Cuban knew or was reckless in not knowing that he had received confidential information about Mamma.com. (Mamma.com, based in Canada, has since changed its name to Copernic.)
Cuban has a lot more than the playoffs to think about this year...
:
It's going to be entertaining...
Stay tuned!
Dandy Jack!
Bud Selig and Major League Baseball opposed MarK buying a Major League baseball Team...
No team in Chicago for Mark!!! Even if he has the money...
Sometimes money is not enough!
Some think he's too cocky for the League of a closed private group. Major League Baseball
has been able to avoid all anti-trust laws... The owners are a close knit group...
Is Mark being set up? What do you think? did he just do something dumb?
IN THE UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF TEXAS
DALLAS DIVISION
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff, § Civil Action No. 3:08-CV-2050-D
VS.
MARK CUBAN,
Defendant.
MEMORANDUM OPINION
AND ORDER
In this civil enforcement action brought by plaintiff Securities and Exchange
Commission (“SEC”) against defendant Mark Cuban (“Cuban”) under the misappropriation theory of insider trading, Cuban moves for summary judgment.
Although the question whether Cuban is entitled to summary judgment is in some respects a close one, the court concludes that the SEC is entitled to present its case to a jury. The court therefore denies Cuban’s motion.
The S.E.C. filed a civil lawsuit against Mr. Cuban in 2008, He was accused of trading on confidential information when he sold his stake in Mamma.com, a small Internet search company, in June 2004, just before it announced news that caused its stock price to plummet.
Mamma.com’s chief executive had asked Mr. Cuban, who already owned about 6 percent of the company, if he wanted to buy shares in a new share offering. According to the S.E.C., Mark Cuban did not buy any of the new shares.
However
The SEC states that the very next day, Mark Cuban dumped all of his shares, thus avoiding a $750,000 loss.
Is that insider trading???
Maybe according to The SEC...The S.E.C. said that Mr. Cuban knew or was reckless in not knowing that he had received confidential information about Mamma.com. (Mamma.com, based in Canada, has since changed its name to Copernic.)
Cuban has a lot more than the playoffs to think about this year...
:It's going to be entertaining...
Stay tuned!
Dandy Jack!
