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posted 11/17/2008
Breaking Newz: Mark Cuban Charged With Insider Trading
BostonsportZ —
Isn't this what the live sportscenter was for? What the hell? ESPN's got the BREAKING NEWS Bar going nuts saying Mark Cuban has been charged with insider trading, according to the Wall Street Journal.
Cuban owns the Mavericks and has been in the market to buy into MLB by trying to acqure the Cubs.
Here's the link to WSJ's online story.
You just know that Bristol is buzzing right now. "Somebody wake Mark Fainaru-Wada! Get your reporter hat on! Cue up the picture of him looking sad!"
Update: They just gave a quick update on the Cuban story, just ...
Uh Oh...Mark Cuban Being Charged With Insider Trading [Mark Cuban]
Deadspin —
From WSJ: "The Securities and Exchange Commission filed insider trading charges against Mark Cuban, the outspoken owner of the Dallas Mavericks, for allegedly dumping shares in Mamma.com upon learning it was raising money in a private offering. The SEC alleges in a civil action that Mr. Cuban sold his entire 6% ownership stake on June 28, 2004, after learning that Mamma.com was raising money through a private investment in a public entity, or PIPE. The next day, on June 29, the company announced the PIPE financing and shares of the company dropped ...
Mark Cuban Charged with Insider Trading
The Big Lead —
... Mark Cuban Busted: For insider trading. ”The SEC alleges in a civil action that Mr. Cuban sold his entire 6% ownership stake on June 28, 2004, after learning that Mamma.com was raising money through a private investment in a public entity, or PIPE. The next day, on June 29, the company announced the PIPE financing and shares of the company dropped by more than 10%. By selling his stake, the SEC alleges, Mr. Cuban avoided more than $750,000 in losses.” (Wall Street Journal) ...
Yikes! Mark Cuban Charged With Insider Trading
SPORTSbyBROOKS —
... in a private offering.” So how much did Cuban make? Nothing. How much he was saved from losing though is another story. The SEC alleges in a civil action that Mr. Cuban sold his entire 6% ownership stake on June 28, 2004, after learning that Mamma.com was raising money through a private investment in a public entity, or PIPE. The next day, on June 29, the company announced the PIPE financing and shares of the company dropped by more than 10%. By selling his stake, the SEC alleges, Mr. Cuban avoided more than $750,000 in losses . $750,000? Wow. That’s almost as crazy as ...
That’s Bad, Right? Mark Cuban Charged With Insider Trading
MOUTHPIECE Blog // A Chicago-Addled Sports Blog —
... I don’t know anything about finance or trading, but I do know this: You’re supposed to say “fuh-nance” and not “fye-nance.” Also, insider trading is naughty. So I know Mark Cuban is in a bit of trouble, according to this still-developing story from the Wall Street Journal: ...
Well. This Should Help His Chances Buying The Cubs.
Heavy Soul —
Mark Cuban Charged with Insider Trading Shit. Here's the next headline I see popping up: "Cubs Welcome The Rickett's Family as New Owners" Merry Christmas, Cub fans. Be on the lookout for random kicks to the nuts, 'cause they're coming.
Mark Cuban Gets Busted
The Slanch Report —
... Maverick Mavericks owner Mark Cuban has been charged with insider trading by the Security and Exchanges Commission for allegedly selling shares in the website company “mamma.com” after learning it was raising private money. The move ended up saving approximately $750k for the man worth about $2.8 billion. From the Wall Street Journal who broke this story: ...
Mark Cuban charged with insider trading
Sports Crackle Pop —
... “The SEC alleges in a civil action that Mr. Cuban sold his entire 6% ownership stake on June 28, 2004, after learning that Mamma.com was raising money through a private investment in a public entity, or PIPE. The next day, on June 29, the company announced the PIPE financing and shares of the company dropped by more than 10%. By selling his stake, the SEC alleges, Mr. Cuban avoided more than $750,000 in losses.” ...
Mark Cuban Has Been Charged With Insider Trading by the SEC Relating to Mamma.com
FanHouse —
... Now, what in the name of the Duke Brothers does that actually mean? Well, here's the skinny: Cuban was invited to be an investor in Mamma.com, a conglomerate type of search engine start up company. He invested, back in 2004. However, Cuban dumped his entire investment in the company in 2004 after finding out from Mamma that their private funding money dipped by 10% , causing the company to offer their stock at a discounted price from the previous day's closing number. (In other words, everyone who owned the stock would take a tremendous loss.) ...
Breaking news: SEC charges Mark Cuban with insider trading
Ball Don't Lie —
... Straightforward explanation, with help from the Wall Street Journal: The SEC alleges Cubes sold his entire ownership stake after learning that Mamma.com was raising money through a private investment in a public entity, or PIPE. The next day, the company announced the PIPE financing and shares of the company dropped by more than 10%. By selling his goods, the SEC alleges, Cubes avoided more than $750,000 in losses. ...
Mark Cuban Charged With Insider Trading By SEC
FanIQ Blog —
... Anyway, this alleged insider trading came back in 2004, and here's what it specifically entailed courtesy of the Wall Street Journal: ...
Odds and Ends: Mussina, Proefrock, Cuban
MLB Rumors - MLBTradeRumors.com —
... whether he's retiring soon.
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Roch Kubatko had the scoop yesterday - Scott Proefrock, formerly of the Orioles, is the new assistant GM for the Phillies.
Trey Hillman is familiar with Kenshin Kawakami, but it's not known whether the Royals are interested.
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Mark Cuban is in hot water for alleged insider trading.
...
Cuban Busted
The Bad News Bloggers —
... The Wall Street Journal explains that Cuban was entrusted with the information that Mamma.com was "raising money through a private investment in a public entity, or PIPE." The following day, (after Cuban sold his shares) Mamma.com announced their move, resulting in the share price decline. PIPE transactions typically result in shares being sold at a reduced price (compared to the trading price) and result in a lowered trading price (as the information hits the market) as shares become diluted (more shares in the market) and the pricing of some shares is reduced (suggesting ...
Mark Cuban Charged With Insider Trading
TheScore.com Blog —
... Uh-oh! The Wall Street Journal is reporting that in 2004 Mark Cuban avoided $750,000 worth of losses by selling off his entire stake in ...
BREAKING: MARK CUBAN BUSTED BY SEC
With Leather - Sports news and gossip, panda sex, and the occasional Toonces the driving cat Photoshop —
... fairness. The ultimatum game isn’t about stealing, it’s about equal shares.
So far, Cuban has not addressed the charges on his blog, not to suggest that he may be legally permitted to do that, or that doing so would be in his best interests. So is Cuban a lying, cheating rat bastard? Hey, the government says so, but then, the government also said that OJ didn’t do it, so you may want to hold off judgment for a while.
[Wall Street Journal] ...
Mark Cuban Accused of Insider Trading
RealClearSports - Blog —
The Wall Street Journal is reporting Dallas Mavericks owner (and hopeful Chicago Cubs owner) Mark Cuban has been charged with insider trading. ...
Mark Cuban in Trouble With the Feds
I *Heart* Celtics —
Uh oh. From the WSJ: The Securities and Exchange Commission filed insider trading charges against Mark Cuban, the outspoken owner of the Dallas Mavericks, for allegedly dumping shares in Mamma.com upon learning it was raising money in a private offering (full text of complaint). The SEC alleges in a civil action that Mr. Cuban sold his entire 6% ownership stake on June 28, 2004, after learning that Mamma.com was raising money through a private investment in a public entity, or PIPE. The next day, on June 29, the company announced the PIPE financing and ...
Cuban vs. the SEC
Sports Bastards —
Hattip: SAPPERs in Afghanistan
Mark Cuban in trouble.
Seems the SEC thinks the most excitable NBA Owner ever, Mark Cuban, knew about something going down at one of his old companies, Mamma.com and proceeded sell his entire six percent stake. The sale was the precursor to a ten percent drop in the stock of the company.
In essence, Mark sold his shares on June 28, 2004. The company revealed it was using PIPE funding and the stocks dropped. Time will tell if Mark can outsmart the SEC.
Charges Filed Against Mark Cuban by SEC for Insider Trading
Midwest Sports Fans —
... Mark Cuban, one of the most famous graduates of my beloved Indiana University and the current owner of the Dallas Mavericks, has been charged with insider trading by the SEC according to the Wall Street Journal. ...
Mark Cuban: Charged With Insider Trading
SLAM Online —
... If you’ve been reading Mark Cuban’s blog over the last few months, then you know that he’s spent a lot of time discussing the stock market and the meltdown on Wall Street. Well, now it looks like he may have gotten himself into some hot water with the SEC.
Sayeth the Wall Street Journal: ...
Mark Cuban charged with insider trading
tonyblogs.net —
... The Securities and Exchange Commission has filed insider trading charges against Cuban, claiming that he dumped his 6% share of Mamma.com in 2004 after learning the site was raising money through a private venture. The information helped Cuban avoid the loss of $750,000, according to the SEC. If you feel like reading a nine-page .pdf of the complaint, ...
Monday’s Layup Drill
Detroit Bad Boys —
... is a veteran guy who’s constantly talking to you the whole time,” said Brown, who played 28 minutes Friday. ” ‘Sheed is a great leader — a lot of people don’t know that. He has weird ways of showing his emotion, but as far as basketball player and getting guys in the right spot, he does that better than anybody, and he’s constantly talking, constantly helping you out.”
Mark Cuban … WTF?
Shaq’s post-game explanation for trying to maim Rodney Stuckey (emphasis mine): ...
Perkisablotter: Cuban Indicted
perkisabeast.com Blog —
... We know a lot about insider trading in these parts. But, we were shocked to see that Mark Cuban has been indicted by the Securities and Exchange Commission. ...
Cubes Might Be Sheisty
Both Teams Played Hard —
... As it’s probably safe to assume in the case of all billionaires, Mark Cuban may have allegedly engaged in insider trading. ...
Pickoff Moves
6-4-2 — an Angels/Dodgers double play blog —
... , inking an $8M/2 year deal. Affeldt pitched for the Reds in 2008 with a 1-1, 3.33 ERA record.
Mark Cuban Charged With Insider Trading
Mark Cuban has been charged with insider trading, which will probably put an end to his pursuit of the Cubs. Via ...
Mark Cuban hit with insider trading charge
The SAV SCI blog--MMA and mayhem —
... than the NY Stock Exchange–it most likely is, but saying that no doubt put him in the SEC crosshairs. Furthermore, while the SEC is supposed to be an independent, non-partisan agency someone could have a political ax to grind. Here’s the WSJ’s legal editor giving his take on the situation, followed by a link to the WSJ story. Unless it comes out that Cuban used the $750,000 he allegedly netted from this to pay for DREAM broadcast rights we won’t have much more to say about this…. SEC charges Mark Cuban with insider trading @ WSJ.com
