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  1. #1
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    Marc Cuban Charged w/ Insider Trading

    Just coming across the wire now. SEC is charging Cuban with insider trading by selling shares in mamma.com (?) before the company was about to announce a new share sale. No link yet.



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    Re: Marc Cuban Charged w/ Insider Trading

    Good. I used to love Cuban. After his anti war and Soldier movie came out I can't stand him.



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    Re: Marc Cuban Charged w/ Insider Trading

    ohh noes!!!!


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    Re: Marc Cuban Charged w/ Insider Trading


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    Re: Marc Cuban Charged w/ Insider Trading

    Quote Originally Posted by Knownothing View Post
    Good. I used to love Cuban. After his anti war and Soldier movie came out I can't stand him.
    What movie??



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    Re: Marc Cuban Charged w/ Insider Trading

    I don't know a whole hell of alot about these trading issues.

    But unless he took some sort of active part in the decision to raise the funds through the PIPE, how can he be faulted?

    Kind of an iffy situation. Don't pretty much all investors make decisions based of information they glean?

    Again, if he was a decision MAKER, I get it. But otherwise.......



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    Re: Marc Cuban Charged w/ Insider Trading

    Is this going to be a Martha Stuart-type deal?


    Exaggeration is a BILLION times worse than understating.

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    Re: Marc Cuban Charged w/ Insider Trading

    How much did Martha Stewart make from her insider trading? In Cuban's case, he "only" saved about $750,000. In the grand scheme of his fortunes, that's probably less than 5%.


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    Re: Marc Cuban Charged w/ Insider Trading

    Quote Originally Posted by throwittoblythe View Post
    How much did Martha Stewart make from her insider trading? In Cuban's case, he "only" saved about $750,000. In the grand scheme of his fortunes, that's probably less than 5%.

    Forbes estimated last year that his worth is around $2.1 billion.
    $750,000 hardly seems worth it.



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    Re: Marc Cuban Charged w/ Insider Trading

    But I thought he was going to lead the Cubs into a 100 year period of greatness?



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    Re: Marc Cuban Charged w/ Insider Trading

    Quote Originally Posted by DaddyMac View Post
    I don't know a whole hell of alot about these trading issues.

    But unless he took some sort of active part in the decision to raise the funds through the PIPE, how can he be faulted?

    Kind of an iffy situation. Don't pretty much all investors make decisions based of information they glean?

    Again, if he was a decision MAKER, I get it. But otherwise.......
    Once he knew about it the new issue, he is precluded from trading the stock until it has been made public information. Same thing that happened to Martha Stewart. Once you get material, non-public information, you can't do anything. I'm sure it happens pretty frequently, but most people don't do it in large enough scale to get noticed.



  12. #12
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    Re: Marc Cuban Charged w/ Insider Trading

    Quote Originally Posted by SuperCy View Post
    Forbes estimated last year that his worth is around $2.1 billion.
    $750,000 hardly seems worth it.
    Wow, so 0.03%. Even less than I thought.


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  13. #13
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    Re: Marc Cuban Charged w/ Insider Trading

    Quote Originally Posted by DaddyMac View Post
    I don't know a whole hell of alot about these trading issues.

    But unless he took some sort of active part in the decision to raise the funds through the PIPE, how can he be faulted?

    Kind of an iffy situation. Don't pretty much all investors make decisions based of information they glean?

    Again, if he was a decision MAKER, I get it. But otherwise.......
    It wasn't that he was involved in the PIPE, it was that he heard about it and sold his shares (knowing that the price would go down) before the PIPE was announced publicly.



  14. #14
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    Re: Marc Cuban Charged w/ Insider Trading

    Martha Stewart served 5 months in prison and 5 months in home confinement plus probation for avoiding a 45k loss. She also received a 30k find.

    Her net worth is 600 milllion plus.

    In at least the short term her net work took a much bigger loss than 45k because of the insider trading.

    Quote Originally Posted by SuperCy View Post
    Forbes estimated last year that his worth is around $2.1 billion.
    $750,000 hardly seems worth it.



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    Re: Marc Cuban Charged w/ Insider Trading

    Quote Originally Posted by djcubby View Post
    What movie??
    This piece of garbage:

    Redacted (2007)

    I believe he has financed other productions that show the US in a bad light too. Yeah, I would hate any place that made me a multi-billionaire too.


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