Wednesday, November 26, 2008

The Onion On Mark Cuban And The SEC

As always, it's funny because it's true:

"First Martha Stewart, now Mark Cuban. It's like the SEC knows exactly who I hate."
"As with all of his predicaments, Mark Cuban will find some way to yell at an official for this."
"Hey, sometimes you've got to break a few SEC rules to do whatever it is that Mark Cuban does all day."

In case you're not up to speed on what the SEC is accusing Mark Cuban of doing, the fine folks at Clusterstock have given the pending case some superb coverage that you can skim by clicking here. Not to mention that you can read about what Cuban himself has to say on the subject, on his blog.

This story is especially interesting because, to the best of my knowledge, this is the first insider trading case where the accused publicly admitted to the act of selling his shares on his blog, for the whole world to see. What's at issue is whether or not his receipt of private information made him an insider or not.

This is far from over.

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1 comment:

Brian J Munro said...

If hubris was worth its weight in gold Mark and all the rest of the corporate ninnies could buy us out of the current economic crisis.