Federal regulators have charged Dallas Mavericks owner Mark Cuban with insider trading for allegedly using confidential information on a stock sale to avoid more than
$750,000 in losses.

The Securities and Exchange Commission filed a civil lawsuit
against Cuban on Monday in federal court in Dallas. The agency says
that in June 2004, Cuban was invited to get in on the coming stock
offering by Mamma.com Inc. after he agreed to keep the information
private.

The SEC says Cuban knew the shares would be sold below the
current market price, and a few hours after receiving the
information, told his broker to sell all shares in the search
engine company.

(The Associated Press)

2 Comments

Martha said:

DENIED!!! DENIED!!! DENIED!!! MARK...You always wanted to sell those stocks...

November 17, 2008 10:57 AM

lachuan said:

who cares!!! hell he still rich,they just trying to get in where they fit in trying to get they palms greased

November 17, 2008 2:04 PM

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