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Mark Cuban Wins Bid to Toss out SEC Claims

35 pointsby rjettalmost 16 years ago

3 comments

smokinnalmost 16 years ago
Can someone explain how this isn't insider trading? I don't really know what the rules are but after reading that article this is what I understood:<p>Cuban gets an email and has a private conversation with Mamma.com CEO where get gets told there will be a PIPE.<p>Apparently PIPEs dilute existing shareholders and drive stock price down.<p>To protect his assets, Cuban trades based on the information he got. The rest of the market did not have this info.<p>How is trading based on a personal conversation that gives you early and unique market insight not insider trading?
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mikecuestaalmost 16 years ago
Good for him.
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chaostheoryalmost 16 years ago
this may be just an unrelated coincidence but Mark financed a movie critical of the Bush admin