Mark Cuban seems to be in a little bit of trouble

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http://online.wsj.com/article/SB122693827604333637.html

 

[ieatcrayonz]

http://online.wsj.com/article/SB122693827604333637.html

 

Prepare for more know it all's claiming sports are not subject to Sarbanes-Oxley despite this further proof. As if the McCargo reversal was not enough.

[Steely Dan]

He needs to call Martha Stewart and ask for advice on what jails are the cushiest.

[HopsGuy]

He needs to call Martha Stewart and ask for advice on what jails are the cushiest.

 

This will be interesting. From what I've read so far, this is a pretty clear cut 'n dried case of trading on material non-public information. It's purely a civil complaint, so jail time isn't really part of the equation. Now, if he tries to fight it, that's when the DOJ might bring out its daggers. Then he'll end up screaming at Tim Donaghy during a rec-yard game. I'd like to think he'd be smart enough to do a deal where he pays a fine (3x the loss avoided plus interest) while admitting to no wrong doing (this happens all the time). He'd be barred from serving on the board of a public company for like 5-10 years. However, the guy has a HUGE ego so he might fall into the Martha Trap*.

 

* Martha Trap - you did something wrong but while the authorities are sure you did, they don't have enough evidence to prove you did it. When this happens, they poke around long enough so that they can charge you with "obstruction of justice" which is a pretty easy way for them to send you to jail. This is what will happen to Barry Bonds and eventually to Roger Clemens.

[HopsGuy]

However, the guy has a HUGE ego so he might fall into the Martha Trap*.

 

Oh boy. Here we go.

[Steely Dan]

Oh boy. Here we go.

 

Mr. Cuban stated, “I am disappointed that the Commission chose to bring this case based upon its Enforcement staff’s win-at-any-cost ambitions. The staff’s process was result-oriented, facts be damned. The government’s claims are false and they will be proven to be so.”

 

Well then never mind. Why don't they just drop the case.

[LewPort71]

He needs to call Martha Stewart and ask for advice on what jails are the cushiest.

 

MS was jailed at an all women's prison here in WV. So that might be a problem..

The jail is very near the hospital where Mrs. Lew works....

and some days she says the jail would be better than the hospital..

But that's another discussion

[The Dean]

How long before the first fish bites?

[Steely Dan]

MS was jailed at an all women's prison here in WV. So that might be a problem..

The jail is very near the hospital where Mrs. Lew works....

and some days she says the jail would be better than the hospital..

But that's another discussion

 

She can use her contacts with her fellow subjugated bretheren to get the info Jack-ASS!!

[HopsGuy]

This is really starting to get interesting. A Mavs fan that works for the SEC was exchanging emails with Cuban about whether Cuban's entertainment company would participate in the distribution of "Loose Change" the tin-foil-hat-crowd video assertion that the 9/11 attacks were a US government plot.

 

Here's the story on the WSJ Law Blog.

 

I don't think this has anything to do with whether or not MC traded on material non-public information, but it might explain why it took 4 years for the SEC to press their case.

[The Dean]

This is really starting to get interesting. A Mavs fan that works for the SEC was exchanging emails with Cuban about whether Cuban's entertainment company would participate in the distribution of "Loose Change" the tin-foil-hat-crowd video assertion that the 9/11 attacks were a US government plot.

 

Here's the story on the WSJ Law Blog.

 

I don't think this has anything to do with whether or not MC traded on material non-public information, but it might explain why it took 4 years for the SEC to press their case.

 

 

Holy s#it.

 

"he is being reviewed for possible disciplinary actions"

 

They HAVE to fire that guy, no?