Mark Cuban Charged with Insider Trading

[AMBlai01]

Just heard this on ESPN radio. Not many details have been released on the charges just yet....

[DeluxeLiner]

Bye Bye Cubs...if there was even any hope before

[pico]

it is on cnbc as well.

so what you think gonna happens to the mavs? probably nothing.

[jjgold]

Most of these rich guys get their money illegally

Nail the bastered

[Brock Landers]

http://online.wsj.com/article/SB122693827604333637.html

[pico]

cnbc said mark cuban was known for his perfect market timing. now we all know how.

[DeluxeLiner]

how much is $750,000 to him??

[AMBlai01]

Insider trading is such a gray area and the SEC really picks and chooses who they are going to charge with this. Really isn't Mark Cuban's fault...

[RogueScholar]

Thank goodness there's no insider gambling charges. I'd hate to read about a player's status in some blog, place my wager, and then get arrested for betting based on that information before ESPN got ahold of it.

I always figured that part of the perks of being an "insider" was being able to act on information that was still esoteric. This is populist garbage on our law books. Trading in equities is a risk, just like gambling. And just like the Steelers game yesterday, sometimes a whole host of people get screwed. People need to get over this concept of fairness, because it's a complete fallacy.

[pavyracer]

Nail the bastered

[jjgold]

I read story, this is minor

[wtf]

he will pay a fine, and continue doing it, chump change for him

[fiveteamer]

Federal regulators have charged billionaire Dallas Mavericks owner Mark Cuban with insider trading for allegedly using confidential information on a stock sale to avoid more than $750,000 in losses.

The guy pisses out that much on a Wednesday evening.

Martha got nailed for less.

[nosniboR11]

This is by far from minor and NO you can not just pay a fine on this one.

[Boner_18]

I wouldn't classify it as minor but 10b-5 liability (insider trading) under the 1934 Exchange act is rarely criminal and authorities are even mixed upon whether it can be criminal. Lying to federal investigators on the other hand (Martha Stewart) is criminal.

[AMBlai01]

I don't care who you are 750K is a lot of money. He might be worth 2.2 Billion but that still hurts. It isn't minor and there is a real possibility that he is going to go to jail for this....

[bigboydan]

I think MLB is trying to frame Mark Cuban just so they have an excuse not to sell him the Cubs.

[AMBlai01]

I think MLB is trying to frame Mark Cuban just so they have an excuse not to sell him the Cubs.

MLB already said no...and they had no knowledge of this.

[Boner_18]

He just posted on his blog that he will fight it...

[maniac0201]

Martha got nailed for less.

Martha got nailed for lying to federal agents about insider trading, not for insider trading.

[etothep]

how much is $750,000 to him??

According to Forbes, his net worth in '07 was $2.8 billion. So divide that by 750K & multiply it by your net worth to get your equivalent. You'll be suprised at how small the sum will be

[treece]

Cuban is a fukkin cheat.

[Tchocky]

Sounds like Cuban is guilty. His fine could be 4x the amount of his profit so he could be looking at a fine of $3 million. Highly unlikely he'll do any time like Martha Stewart unless he lies to the authorities.

[capitalist pig]

They are civil charges not criminal, at worst he gets fined.

later