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Court Revives SEC's Lawsuit vs Mark Cuban - NYTimes.com
According to the SEC, Cuban agreed not to share any information before Mamma.com chief executive Guy Faure told him in a phone call that the company planned to raise money through a private stock offering. The complaint says Cuban became angry because he said the plan would hurt his stock’s value and ended the call by saying, ”Well, now I’m screwed. I can’t sell.”
The SEC alleges that Cuban sold his 600,000 shares, or 6.3 percent stake in the company, before the announcement of the private offering.
Uh Oh Mark. Shoulda watched Wall Street in the 80’s.