The Feds have alleged that Mark Cuban is an “insider trader” founded upon evidence of an unsolicited sales call by a Mamma.com executive to Mr. Cuban in 2004. The evidence relies upon facts that said executive revealed to Mr. Cuban that the dot com was seeking Private Investment In Public Equity funding [PIPE 101 here]. Mr. Cuban protested the call and the financing; immediately following the call up with orders to his broker to get him out of the stock by the next day. The orders saved Mr. Cuban $750,000. The Wall Street Journal has the details.
The defense rests with the court [not on it], should be interesting, bound to be Hoops and “Mavericky”.
Trendy sure can sit on a trend. Yep, every crooked corporate crisis has to have their Martha.
Watch closely now…