Mark Cuban charged with insider trading

[DanS]

Headline news on the Wall Street Journal online.

SEC charges Dallas Mavericks owner and Internet entrepreneur Mark Cuban with insider trading related to sales of Mamma.com, now known as Copernic.

This should be fun. No more Chicago Cubs in his future, obviously.

[Asher]

But I just saw him on Don't Forget The Lyrics!

[Asher]

http://www.mamma.com/Mamma?utfout=1&qtype=0&query=blah&Submit=%C2%A0%C2%A0Search%C2%A0%C2%A0

Look at the "Refine your search" on the right. WHY DIDN'T THIS TAKE OFF?

[KrazyHorse]

He owns the best cinema in Baltimore

[Q Classic]

He's a jerkface anyway.

[Asher]

IIRC he also owns HDNet

[KrazyHorse]

He's the most entertaining owner of any sports franchise

[Asher]

And his search engine suggests "female smells" as a search for "blah"

[KrazyHorse]

He has the ability to mimic female smells via an organ in his rectum which is vestigial in most humans. This has caused much confusion in the Mavs' locker room

[DanS]

From the WSJ...

The Securities and Exchange Commission filed insider trading charges against Mark Cuban, the outspoken owner of the Dallas Mavericks, for allegedly dumping shares in Mamma.com upon learning it was raising money in a private offering.

The SEC alleges in a civil action that Mr. Cuban sold his entire 6% ownership stake on June 28, 2004, after learning that Mamma.com was raising money through a private investment in a public entity, or PIPE. The next day, on June 29, the company announced the PIPE financing and shares of the company dropped by more than 10%. By selling his stake, the SEC alleges, Mr. Cuban avoided more than $750,000 in losses.

In a PIPE transaction new shares are issued at a discount to the current trading price. An announcement of a PIPE transaction is often followed by a drop in the stock price as shareholders anticipate their stake will be diluted.

[Japher]

750,000 is chump change to him.

[Aeson]

[tinfoil]It's because he actually supports a reasonable approach to the "bailout"[/tinfoil]

[Grandpa Troll]

Look, dont we have a Sports Forum for this?

I am trying to behave myself now, and here i got a black mark next to my name from Imran

Hes a nice guy, but I so enraged him he locked my thread, now is that anyway for me to act, taking him away from his important business and now, now, i am on the Staff Room Wall, being subjected to a thread search, eyes wrinkled and furrowed brows, I can just hear them now...

/me puts his glass to the wall...GT..yeah..was a nice guy..but he is copy cat threading now/...beat him..yeah..and by the way, hows that little p!$$ant kidiscious doing getting under his skin?..ahh..we will fix Gramps for starting trouble...ok..agreed..strat locking all his threads..just start a dl thread in some obscure location..like History Form or Other games/Other games..then close his



I am so sorry

The previous message was brought to you by Grandpa Troll Humor department and in no reflect the general humor of this sites owners/staff or moderators




Imran below celebrating his victory over my attempt to infiltrate the Sports Forum, EPIC FAIL on my behalf

[Imran Siddiqui]

Enraged him?

[Kidlicious]

I never thought anyone would ever use insider information to trade stocks. I'm so shocked.