Mark Cuban Charged With Insider Trading

[Jeremy]

Oh Snap.

http://money.cnn.com/2008/11/17/news...ion=2008111712

[PokerNations]

Yup, I saw this earlier. I wonder if they'll Martha Stewart him?

[Jeremy]

I heard that it's a civil case right now though, so he probably will just get a slap on the wrist. Insider trading is actually a tough law when you think about it. Of course it's wrong but imagine if you had $25K sitting on an online poker site, and I called you at 8:00 A.M. telling you that all funds were going to be permanently seized later that day. There is no doubt you would want to get your money out ASAP.......

I think some of these guys get caught up in the moment and are just trying to save their investment without actually thinking things through. If I ever become a billionaire I guess I will have to start scrutinizing my Ameritrade activity closer, lol.

[Pking]

Cuban is cool. If you send him an email, chances are that he'll actually respond.

That being said, the SEC filing makes it appear as though this is a pretty open and shut case. Mark seems to be emphatically proclaiming his innocence though..

[Primoswaps]

Someone as rich as Mark Cuban shouldn't be doing actions remotely close to insider trading. That's just being greedy, and I hope he gets slapped hard.

[xYassassinYx]

He recently bought a share in the UFC too

[PTC]

Someone as rich as Mark Cuban shouldn't be doing actions remotely close to insider trading. That's just being greedy, and I hope he gets slapped hard.

All charges have been dropped against mr cuban.

[Pking]

Cuban and his lawyers made the SEC look pretty silly.

[LadyHoldem]

So from a clueless pov. If you find out your investment is going broke in the am.. what should you actually do?

What should martha have done? Hold a press conference while her ppl are selling her stuff off? Would that have saved her? PS I googled, but I'm not trying to spend all day reading about Martha :P .. And about all i found in my search is "martha Stewart should have known better.."

http://www.google.com/search?hl=en&c...d+have&spell=1

[PTC]

So from a clueless pov. If you find out your investment is going broke in the am.. what should you actually do?

If you figure this out on your own, there is nothing illegal about using your intellect. This is not insider info.

If you have privileged information, then not much you can do. I guess be quick once things go south in the morning. It sucks for some people who get lucky, but these people usually aren't harassed much or caught unless they are trading in volumes large enough to shift the price of a stock. SEC usually goes after people who abuse their position in a company or their connections.