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
Meanwhile, ESPN’s Roger Cossack said today that Cuban “has not been charged or indicted, as I see it yet, in a criminal complaint. That is a possibility, but it hasn’t happened yet.”
Additionally, Cossack said the SEC complaint probably will not have much impact on the Mav’s day-to-day operations since “this is a personal problem that he made that has nothing to do with the Dallas Mavericks.”
Sounds as if so long as Cuban cooperates with the Feds, he won’t be heading to the cooler anytime soon. In other words, knowing Cubes, it’s 50-50 he’s be strapping on an anklet before long.
UPDATE: Cuban responds on BLOG MAVERICK. Of course, he will fight it.