Mark Cuban in Serious Trouble: SEC Files Insider Trading Charges Against Him
Sharesleuth.com describes itself as an “independent Web-based reporting aimed at exposing securities fraud and corporate chicanery... Call it journalism. Call it investigative blogging. Call it what you will.” We’ll call it "ironic," given that the SEC has just filed insider-trading charges against Sharesleuth’s main backer, tech billionaire Mark Cuban. The SEC alleges that Cuban sold his 6% stake in Canadian-based Internet search company Mamma.com in 2004, after being told by management that it was going to announce a PIPE financing. According to the SEC, Cuban, who has called PIPE financings “a huge red flag,” almost immediately
17 November 2008•2 mins read
