Comments on: Cuban Indicted Sued By S.E.C. http://www.ritholtz.com/blog/2008/11/cuban-indicted/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Sat, 21 Nov 2009 21:07:54 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Mark E Hoffer http://www.ritholtz.com/blog/2008/11/cuban-indicted/comment-page-1/#comment-127132 Mark E Hoffer Tue, 18 Nov 2008 22:07:51 +0000 http://www.ritholtz.com/blog/?p=9790#comment-127132 Dustin Anderson comments on the SEC’s insider trading charges against Mark Cuban: It’s interesting to note that just back in mid October Mr. Cuban announced his involvement with BailoutSleuth, which is a new blog that sets out to “keep an eye on our taxpayer dollars and call Bullshit when necessary”. The project has been keeping up on where the bailout money is going (at least the money that’s been transparent) and has been critical every step of the way. However, I’m convinced Mr. Cuban’s open criticisms of government have got nothing to do with these charges that are based on a trade that took place four years ago. Why, that would be preposterous! Hmm. http://disinter.wordpress.com/2008/11/18/mark-cuban-targeted-by-sec-after-exposing-corruption/ Dustin Anderson comments on the SEC’s insider trading charges against Mark Cuban:

It’s interesting to note that just back in mid October Mr. Cuban announced his involvement with BailoutSleuth, which is a new blog that sets out to “keep an eye on our taxpayer dollars and call Bullshit when necessary”. The project has been keeping up on where the bailout money is going (at least the money that’s been transparent) and has been critical every step of the way.

However, I’m convinced Mr. Cuban’s open criticisms of government have got nothing to do with these charges that are based on a trade that took place four years ago. Why, that would be preposterous!

Hmm.

http://disinter.wordpress.com/2008/11/18/mark-cuban-targeted-by-sec-after-exposing-corruption/

]]> By: mark313 http://www.ritholtz.com/blog/2008/11/cuban-indicted/comment-page-1/#comment-126948 mark313 Tue, 18 Nov 2008 01:22:20 +0000 http://www.ritholtz.com/blog/?p=9790#comment-126948 Cuban was not indicted. This is a civil complaint, not a criminal one. When someone is indicted, it means a grand jury has considered the evidence and decide it warrants bringing a criminal case. That did not happen here, just the staff of the SEC decided to bring this lawsuit. See for more: http://www.findingdulcinea.com/news/business/2008/November/Mark-Cuban-Charged-with-Insider-Trading-.html Cuban was not indicted.

This is a civil complaint, not a criminal one. When someone is indicted, it means a grand jury has considered the evidence and decide it warrants bringing a criminal case. That did not happen here, just the staff of the SEC decided to bring this lawsuit.

See for more: http://www.findingdulcinea.com/news/business/2008/November/Mark-Cuban-Charged-with-Insider-Trading-.html

]]> By: mark mchugh http://www.ritholtz.com/blog/2008/11/cuban-indicted/comment-page-1/#comment-126940 mark mchugh Tue, 18 Nov 2008 00:42:36 +0000 http://www.ritholtz.com/blog/?p=9790#comment-126940 I guess I am the only one who's chuckling manically, in a mixture of outrage, chagrin and dread that it took the SEC FOUR FUCKIN' YEARS to react. The only thing more embarrassing that I can imagine, is them not being able to make it stick. And let's face it, that is very, very likely. I guess the good news is they'll start working on the subprime meltdown in 2011. We are so screwed. I guess I am the only one who’s chuckling manically, in a mixture of outrage, chagrin and dread that it took the SEC FOUR FUCKIN’ YEARS to react.

The only thing more embarrassing that I can imagine, is them not being able to make it stick. And let’s face it, that is very, very likely.

I guess the good news is they’ll start working on the subprime meltdown in 2011. We are so screwed.

]]> By: Pat G. http://www.ritholtz.com/blog/2008/11/cuban-indicted/comment-page-1/#comment-126928 Pat G. Mon, 17 Nov 2008 23:19:38 +0000 http://www.ritholtz.com/blog/?p=9790#comment-126928 Archiphage: Considering all the inept and/or greedy politicians, CFOs, CEOs, rating agencies, hedge funds and insider traders in the world, what's the point of investing in the stock market at all? It's too much of a headache. Archiphage:

Considering all the inept and/or greedy politicians, CFOs, CEOs, rating agencies, hedge funds and insider traders in the world, what’s the point of investing in the stock market at all? It’s too much of a headache.

]]> By: texasradio http://www.ritholtz.com/blog/2008/11/cuban-indicted/comment-page-1/#comment-126906 texasradio Mon, 17 Nov 2008 21:45:08 +0000 http://www.ritholtz.com/blog/?p=9790#comment-126906 @jmborchers - That's not necessarily an "institutional sized trade". Not sure what you infer from it, but I'd say a disappointed bull is collecting a few cents now rather than wait for options heaven, the likely destination of those calls. @jmborchers – That’s not necessarily an “institutional sized trade”. Not sure what you infer from it, but I’d say a disappointed bull is collecting a few cents now rather than wait for options heaven, the likely destination of those calls.

]]> By: Calvin Jones and the 13th Apostle http://www.ritholtz.com/blog/2008/11/cuban-indicted/comment-page-1/#comment-126877 Calvin Jones and the 13th Apostle Mon, 17 Nov 2008 19:28:48 +0000 http://www.ritholtz.com/blog/?p=9790#comment-126877 Cuban just posted a reply at his blog: " This matter, which has been pending before the Commission for nearly two years, has no merit and is a product of gross abuse of prosecutorial discretion. Mr. Cuban intends to contest the allegations and to demonstrate that the Commission’s claims are infected by the misconduct of the staff of its Enforcement Division. 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.” Cuban just posted a reply at his blog:

” This matter, which has been pending before the Commission for nearly two years, has no merit and is a product of gross abuse of prosecutorial discretion. Mr. Cuban intends to contest the allegations and to demonstrate that the Commission’s claims are infected by the misconduct of the staff of its Enforcement Division.

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.”

]]> By: Calvin Jones and the 13th Apostle http://www.ritholtz.com/blog/2008/11/cuban-indicted/comment-page-1/#comment-126874 Calvin Jones and the 13th Apostle Mon, 17 Nov 2008 19:06:14 +0000 http://www.ritholtz.com/blog/?p=9790#comment-126874 BrianMcC & others: Don't forget who Cuban employs now. Dan Rather. Did anyone see the <em>NY Times</em> front page today(Or was it yesterday)? BrianMcC & others:
Don’t forget who Cuban employs now. Dan Rather. Did anyone see the NY Times front page today(Or was it yesterday)?

]]> By: Winston Munn http://www.ritholtz.com/blog/2008/11/cuban-indicted/comment-page-1/#comment-126872 Winston Munn Mon, 17 Nov 2008 18:46:23 +0000 http://www.ritholtz.com/blog/?p=9790#comment-126872 With the $2T in opaque bailouts, borrowings, and bazookas among battered banks, it is good to see the SEC is doing something meaningful and constructive with their time - between this hardcore investigation by the SEC and Congress assuring us last summer that Major League Baseball will be steroid free, it hard not to swell with pride about our American institutions and way of life. God bless us everyone. With the $2T in opaque bailouts, borrowings, and bazookas among battered banks, it is good to see the SEC is doing something meaningful and constructive with their time – between this hardcore investigation by the SEC and Congress assuring us last summer that Major League Baseball will be steroid free, it hard not to swell with pride about our American institutions and way of life.

God bless us everyone.

]]> By: BrianMcC http://www.ritholtz.com/blog/2008/11/cuban-indicted/comment-page-1/#comment-126869 BrianMcC Mon, 17 Nov 2008 18:21:43 +0000 http://www.ritholtz.com/blog/?p=9790#comment-126869 Since I love a good conspiracy, anyone think this is SEC/Treasury way of telling Cuban to back off on his muckraking about the bailouts? http://blogmaverick.com/2008/10/17/announcing-bailoutsleuthcom/ http://bailoutsleuth.com/ Since I love a good conspiracy, anyone think this is SEC/Treasury way of telling Cuban to back off on his muckraking about the bailouts?

http://blogmaverick.com/2008/10/17/announcing-bailoutsleuthcom/
http://bailoutsleuth.com/

]]> By: joro http://www.ritholtz.com/blog/2008/11/cuban-indicted/comment-page-1/#comment-126868 joro Mon, 17 Nov 2008 18:19:42 +0000 http://www.ritholtz.com/blog/?p=9790#comment-126868 Sportscenter says jail time impossible with current charges, and doubtful new ones would be filed. Although, everyone thinks of Martha Stewart here, she went to jail the coverup, charged with conspiracy, obstruction of an agency proceeding, and making false statements to federal investigators. Sportscenter says jail time impossible with current charges, and doubtful new ones would be filed. Although, everyone thinks of Martha Stewart here, she went to jail the coverup, charged with conspiracy, obstruction of an agency proceeding, and making false statements to federal investigators.

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