Mark Cuban goes to trial in insider trading case

SEC accused Cuban of engaging in insider trading with Mamma.com

Photo courtesy of the Dallas Morning News

About five years in the making, billionaire Mark Cuban’s day in court over allegations he engaged in insider trading is finally going to happen.

The case dates back to 2008 when the Securities and Exchange Commission (SEC) accused Cuban, who currently owns the Dallas Mavericks basketball team, of acting on confidential information when he sold his stake in Mamma.com, a Canadian search company. According to the SEC, in 2004, Cuban sold off 600,000 shares of the stock, just before Mamma.com announced a private placement of shares.

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Cathleen Flahardy

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