Unless He Goes Martha, Cuban Not Facing Prison

SPORTS BUSINESS DAILY does some good followup on what punishment Mark Cuban will likely face for the insider trading charge filed against him today.

Mark Cuban

First, from Fox Business Channel’s Brian Sullivan:

The complaint alleges Cuban “took a cell phone call … at the American Airlines Arena” from the CEO of Copernic, and Cuban “got very angry, saying he couldn’t sell.” Sullivan: “This is a civil complaint and what the SEC wants is … Cuban to give back (the $750,000 in potential losses) with interest and agree not to do something like this again. It is a civil, not a criminal complaint.” Cuban’s portion of the stake amounted to about 600,000 shares Read more…

Yikes! Mark Cuban Charged With Insider Trading

The WALL STREET JOURNAL has some very bad news for Mark Cuban today, reporting the NBA Dallas Mavericks owner has been charged with insider trading.

Mark Cuban South Park smaller version

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.”

So how much did Cuban make? Nothing. How much he was saved from losing though is another story. Read more…