Do Good Eggs fall off the wall; sadly all the time. Somehow they manage to inspire songwriters though.
Martha Stewart was indicted in 2003 and faced jail time for coverup and obstruction of the investigation of her insider trading. On her side in 2003 was the fact that the grand jury had been predisposed to media leaks regarding the case.
In May 2006 the civil case for insider trading resumed with Martha paying the SEC $175K and 5 years more until she could be director of a publicly traded company. Her insider trading installment plan: insider trade net of $229,000 minus $175K and income lost for 5 years of directorship, oh and jail time. Hey, after jail time she made Forbes billionaire list in 2005 for the first time. In 2007 she ranked #3 on Forbes Richest Women in Entertainment. A crack in the egg hardly makes one a humpty dumpty; once wed to wealth, always wed, no crack can take such true love away.
There is no way out for Mr. Cuban, by continuing the conversation with Mamma he gave his consent to insider information. His $750,000 savings will most likely require a million dollar payment. Oh well, when you are a billionaire, so what. The emotions of it all is hardly worth a fracture in the shell of he’s a good egg. Be “mavericky” and pay up; call it a day off the couch.
1440 Wall Street highlights cases of PIPE insider trading and their fate. SEC Nails Cuban.