Its always the big names that get charged with insider trading with the Securities Exchange. Martha Stewart was a name that recently was made an example of. Mark Cuban is the latest to be charged in the civil proceeding.
Mark Cuban is the owner of the Dallas Mavericks who made his fortunes selling his Broadcast.com to Yahoo. He maintains an online presence and is open about his opinion and views.
The day he was charged you could go straight to his blog and see the post about being charged with the insider trading where he denied charges, but said he could not speak about it now.
However, the next day was a reversal where he gives you a transcript portion of Guy Faure being questioned about Mark Cuban where he says he does not remember what Cuban said in response to hearing that the PIPE (reduced shares offering) funding was going to be happening. Mr. Faure's response sure puts a whole in the SEC's case, where he is the one who delivered the news of alleged insider information. But, Mr. Clark claims that Cuban was never an insider.
It seems Mark Cuban has been harassed recently by SEC's persecutor Jeffrey Norris because Cuban's criticism of George Bush's policies.
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