Cuban Inside Trading?

[cjkalt]

ESPN - Dallas Mavericks owner Mark Cuban accused of insider trading

I'm not really sure why he would have to? I mean the guy is set for life, this seems like more of a PR stunt to prevent him from buying the Cubs, but then again who knows.

[love_that_reefer]

Its called greed! Selig already said Cuban would never be owner so no PR stunt is needed. Looks like Cuban might have ****ed himself over.

[ljshorty89]

Can someone explain in simpler terms what is being alleged? I mean, I understand the basic gist that he used insider knowledge to save himself from losing money.....but what specifically did he do wrong, because the ESPN article didn't explain it well enough for me...

[love_that_reefer]

You pretty much answered your own question. He used insider knowledge to play with the market.

[ljshorty89]

I just meant like....they talked about the specific info he used.....how he knew something about the price of stock offerings.....but I couldn't really understand the specifics. Ya know?

[realmofotalk]

Mark Cuban was a bit of a weasel in that he and his business partner took Yahoo's billions while leaving their 100 employees hanging with company stock options that they couldn't sell before the stock price dropped.

I told you Cuban was shady in his business dealings.

[henks]

I just meant like....they talked about the specific info he used.....how he knew something about the price of stock offerings.....but I couldn't really understand the specifics. Ya know?

Basically he bought a bunch of shares....and was told that prices were going to start sucking...so he sold his shares, preventing himself from getting any losses.

[ljshorty89]

Basically he bought a bunch of shares....and was told that prices were going to start sucking...so he sold his shares, preventing himself from getting any losses.

Gotcha. Sneaky stuff....