In a civil suit, whic is different from a criminal suit, the SEC which stands for Securities and Exchange Commision leveled the charge at technology entrepreneur and owner of the Dallas Mavericks basketball team of selling his stake in Mamma.com in June 2004, hours after he allegedly learned of a planned stock offering by the company that promised to undercut its share price — and before news of the offering became publicly available.
Thats an extremely serious charge and its definitely going to put Mark Cuban’s knickers in a twist. US may be a capitalist country but there is nothing more that people hate than crony capitalism given how poor the wall street and banks and automakers have been bailed out.
Check out Mark Cuban press conference interview on the Youtube clip below. What do you think is going to happen to this gentleman: