Mark Cuban & Insider Trading - Maverick or Martha Stewart | PowerOptions Web Log
By his own admission, Mark Cuban sold his shares in Mamma.com Inc., now Copernic Inc.(CNIC), after receiving non-public information from a senior officer of the company. However, insider trading is notoriously hard to prove, for a variety of reasons. One can only imagine that the SEC is very confident in their case; surely aware of the press this charge would generate and Mr. Cuban’s financial means for a legal battle. Even if convicted, because this is a civil suit, Mr. Cuban will not face jail time. Instead, he would be required to hand over a few million dollars, which is pocket change for him. This is not to say that the SEC should not aggressively pursue this case. This whole incident merely illustrates Mr. Cuban’s solipsism and disregard for the principles of the marketplace the same marketplace that allowed him to amass his staggering wealth in the first place. Let’s...
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