SEC Hits Mark Cuban With Insider Trading Charges »
Posted By MyWayOnNow 1 year, 1 month ago in Business & FinanceBillionaire Mark Cuban likes the spotlight, but not this kind of attention. The SEC filed insider trading charges against the normally talkative blogger, owner of the Dallas Mavericks and chairman of HDNet, the high definition TV channel.
According to the SEC, Cuban dumped 600,000 shares, or all of his 6.3% stake, in the search engine Mamma.com Inc., in June 2004 after learning about private financing that the company was proposing. By selling, he avoided losing $750,000, the SEC alleges.
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