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SEC Shouldn’t “Let it Be”
In times of economic troubles, Cuban’s lawyers come to the SEC, Speaking words of wisdom, Let it be. The Beatles Securities Docket At least twice now I’ve seen what I consider to be an odd comment made about the SEC’s decision to sue Mark Cuban for insider trading: essentially, that in the current economic crisis, [...]
“Mark Cuban Buys SEC After Being Charged With Insider Trading”
From Dateline: Hollywood: “Mark Cuban Buys SEC After Being Charged With Insider Trading” Satire, of course, but funny, particularly the last few lines: Since acquiring the agency, Mark Cuban has dropped all charges against Mark Cuban. “I am glad the SEC came to their senses and dismissed all these charges,” said Cuban in a statement. “If I had know [...]
SEC v. Cuban: Can Someone Thrust a Duty of Confidentiality Upon You?
OK, we officially love the SEC v. Cuban case. The latest twist comes from a new post on Cuban’s “blog maverick” blog where he posted a statement this afternoon that his attorneys have interviewed the key witness for the SEC, and that this witness (the former CEO of Mamma.com) has no memory of Cuban responding [...]
SEC v. Cuban: The “Staff Misconduct” Card
We are keeping an eye on SEC v. Cuban like the rest of the financial/sports/entertainment/billionaire-following world, but are keeping a particular eye on Cuban’s assertion in his press release that the SEC’s claims are “infected by the misconduct of the staff of its Enforcement Division.” As was pointed out to us today by one reader, [...]
Fox Business Video: Cuban’s Attorneys States He Was Not an Insider, “No Meat to Lawsuit”
Fox Business has an interesting interview with Christopher Clark, an attorney for Mark Cuban, the video of which is available below. Among other things, Mr. Clark states that: Cuban did not commit insider trading because he was “not an insider;” there is “no meat” to the SEC’s lawsuit against Cuban; the substance of a key [...]
SEC v. Cuban Craziness Already in Full Swing
Well, that didn’t take long. In the four hours since the SEC filed its lawsuit against Mark Cuban for insider trading, we have seen Mr. Cuban and his counsel issue a statement claiming that: The SEC’s case “has no merit and is a product of gross abuse of prosecutorial discretion.” Mr. Cuban intends to demonstrate [...]
Cuban Responds to SEC Case Via His “Blog Maverick” blog
In a post this afternoon on his “blog maverick” blog, Mark Cuban attached a statement from his attorney, Ralph Ferrara, and stated that he “wished I could say more, but I will have to leave it to this, and let the judicial process do its job.” Ferrara’s statement is below: November 17, 2008 RE: SEC [...]
WSJ Video: “Maverick” Is Called On Insider Trading
The WSJ’s Ashby Jones explains the SEC’s insider trading case filed today against Mark Cuban in this video:
Mark Cuban Hires Paul Coggins and Ralph Ferrara to Defend Him in SEC Case
Mark Cuban has hired Fish & Richardson’s Paul Coggins and Dewey & LeBoeuf’s Ralph Ferrara to represent him in the SEC’s insider trading case filed against him earlier today (discussed here), the Am Law Daily reports. Am Law Daily reports that Coggins is a former Dallas U.S. Attorney and Ferrara was formerly the general counsel [...]
SEC Files Insider Trading Case Against Dallas Mavericks’ Owner Mark Cuban
The SEC today charged Mark Cuban, Dallas entrepreneur and owner of the Dallas Mavericks, with insider trading for selling 600,000 shares of the stock of the Internet search engine company Mamma.com on the basis of material, non-public information concerning an impending stock offering. In what appears to be another “PIPE”-type case (previously discussed here), the [...]