Mark Cuban Busted for Insider Trading

by Elizabeth Fairview  |  November 17th, 2008

Mark Cuban
Mark Cuban has pulled a Martha Stewart. (Wikimedia Image)

Dallas Mavericks owner Mark Cuban has been charged with insider trading by the SEC.

Reportedly, Cuban dumped all his Mamma.com stock after he was tipped off by the company's CEO of a stock-reducing financial transaction they were planning.  Cuban apparently sold 600,000 shares and saved himself a cool $750K loss.

Cuban called his broker after learning of the impending transaction and said, "Sell what you can tonight and just get me out the next day."

 
 
 

 

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