Cuban responds to the SEC Insider Trading complaint

http://blogmaverick.com/2008/11/17/the-sec/

by vaksel • 18 years ago

30 56 18 years ago

fallentimes12• 18 years ago

Cheers to Cuban for responding so quickly. I wish the media would stop hyping this (front page news at CNN, ESPN, Yahoo, etc) until he's proven innocent or guilty. Unfortunately they make their money on pageviews not in depth reporting.

If he's guilty, I wonder if sharesleuth.com will cover it.

jorgeortiz854• 18 years ago

It's news.

Why would news organizations not report it?

fallentimes12• 18 years ago

You shouldn't report just headlines. This morning CNN literally just had an unclickable headline about Cuban. No article. No link. Nothing. Just more "breaking news" linkbait/trafficbait bullshit.

Ironically, TC has had the best coverage so far.

ryanwaggoner• 18 years ago

Not much of a response...

dgabriel• 18 years ago

Anything more than that would be likely prohibited by his lawyer. It's very, very easy to make the wrong public statement.

bprater• 18 years ago

Yep, I'm sure Cuban would love to talk about it, but he could get in legal hot-water depending on what he says. (In fact, I'm surprised he said anything.)

Alex39175• 18 years ago

Cuban may well have been selectively targeted here. Let's not forget that the SEC used its power to get back at Joe Nacchio for refusing to go along with the warrantless wiretapping. Not to say that Nacchio (or Cuban) wasn't guilty, but there could be more here than meets the eye.

tptacek2• 18 years ago

Is there a "selective targeting" exemption from insider trading regulations?

Alex39175• 18 years ago

IIRC prosecutors are not allowed to selectively enforce a law. For example, if Asians are forbidden from being within Boston city limits then the government can't prosecute only Yao Ming to keep him from beating up on their basketball team.

run4yourlives5• 18 years ago

Irrelevant really. Selective targeting didn't coerce him into breaking a law (if he did).

LPTS8• 18 years ago

That's a dangerous point of view. They carefully calibrate the laws so that most people are breaking some of them at least sometimes.

aston• 18 years ago

A question for the more financially minded around here: How much of an impact would Cuban's sale of the stock have made on the price? As in, had he waited until their announcement, then sold all of his (largest minority) share, how much of a price deflation could have been expected?

I imagine if that drop were large enough, he'd at least have an argument that he shouldn't need to pay all of the $750k back.

sutro• 18 years ago

Perhaps fellow insider trader Martha Stewart could send him some cookies if they lock him up.

soundsop• 18 years ago

Martha stewart wasn't convicted of insider trading. She was found guilty of obstruction of justice and lying to investigators: http://money.cnn.com/2004/03/05/news/companies/martha_verdic....

mattmaroon• 18 years ago

I never knew there was a mamma.com

sofal• 18 years ago

The sycophantic comments on his blog are nauseating.

Cuban responds to the SEC Insider Trading complaint

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