Billionaire Dallas Mavericks Owner Mark Cuban Charged with Insider Trading

Filed in Gather News Channel by on November 17, 2008 0 Comments


Mark Cuban, the high-profile billionaire owner of the Dallas Mavericks has been charged by the SEC with insider trading.

Cuban allegedly sold shares of a Candadian internet search company Mamma.com based on non-public information, saving $750,000 in losses. Cuban acted on confidential information provided by Mamma.com to its shareholders.  It's unlikely though that Cuban will end up in jail like Martha Stewart. Most are predicting that despite his harsh words on the case calling it the government's claims "false" and vowing to fight the charge, he most likely he will settle the case for a fine and avoid a trial.

What do you all think? 

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