Many of you have written to us about the SEC charging Internet billionaire and Dallas Mavericks owner Mark Cuban with insider trading. Cuban was a guest on our podcast last month.
The government alleges that in June 2004 Cuban sold 600,000 shares of Canadian search engine company Mamma.com after he learned it would be making a stock offering. The management of Mamma.com invited Cuban to take part in the stock offering after he agreed to keep it a secret, according to the SEC.
The charge is a civil complaint, not a criminal one. Here's a link to the court filing.
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