More bad news for Mavericks everywhere - Mercedes-Benz Forum

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post #1 of 29 (permalink) Old 11-17-2008, 10:08 AM Thread Starter
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More bad news for Mavericks everywhere

Looks like the Mavericks just can't get a gosh darned break.


SEC Slaps Mark Cuban With Insider Trading Charge

The SEC's announcement is now up. It alleges that Mark Cuban was informed of an impending stock offering at Mamma.com, and that within hours of learning of it, he dumped his stock:

The Commission's complaint, filed in the U.S. District Court for the Northern District of Texas, alleges that in June 2004, Mamma.com Inc. invited Cuban to participate in the stock offering after he agreed to keep the information confidential. The complaint further alleges that Cuban knew that the offering would be conducted at a discount to the prevailing market price and that it would be dilutive to existing shareholders.

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.

Mark Cuban Hit With Insider Trading Charges

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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post #2 of 29 (permalink) Old 11-17-2008, 10:41 AM
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More proof that not every rich person is smart enough to stay that way.
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post #3 of 29 (permalink) Old 11-17-2008, 10:58 AM
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Where do ex-"insider traders" go ?
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post #4 of 29 (permalink) Old 11-17-2008, 10:58 AM
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^ To publishers.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
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post #5 of 29 (permalink) Old 11-17-2008, 11:02 AM
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Originally Posted by GermanStar View Post
^ To publishers.
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post #6 of 29 (permalink) Old 11-17-2008, 12:59 PM
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Over the years, I have read so many puff pieces about this 'dynamic entrepreneur', this 'legend in his own time' etc etc.

And somehow I am not terribly surprised, in the end.
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post #7 of 29 (permalink) Old 11-17-2008, 01:20 PM
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Invest in my Maverick!


Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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post #8 of 29 (permalink) Old 11-17-2008, 02:19 PM
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^

Looks like the only insider trading going on there, is between rodents
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post #9 of 29 (permalink) Old 11-17-2008, 02:23 PM
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Actually, you are looking at the main power plant for our new "Wailin' Palin" personal lubrication system, designed especially for Republican bloggers. It compliments our "The cream designed only for patriotic Mavericks who want to spank it for Sarah!" marketing push. That manufacturing facility is state of the art, don't let the pictures fool you. Inflatable is extra, just put the glasses on her:



but you can have this for free:


Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address

Last edited by FeelTheLove; 11-17-2008 at 02:30 PM.
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post #10 of 29 (permalink) Old 11-17-2008, 05:56 PM
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This is the WORST sort of cheap innuendo.





PE Obama’s 1st Big Mistake blog maverick

Wonder if anyone else will step out of line?

Quis custodiet ipsos custodes?

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