We all know that insider trader is done by rich Republican fat cats! So who just got charged?
On Monday, the Securities and Exchange Commission filed a civil suit charging Mr. Cuban with insider trading for selling shares of a small Internet search company in 2004, just before its share price fell.And just so you don't think Cuban was apolitical, or something--this is the guy who helped finance distribution of Loose Change, one of those bizarre 9/11 conspiracy theory movies.
Mr. Cuban saved himself a $750,000 loss, according to the complaint filed in United States District Court in Dallas.
Mr. Cuban swiftly fired back, accusing the regulator of “prosecutorial misconduct” and alleging that he was the victim of a political vendetta by the agency in the waning days of the Bush administration.
“I am disappointed that the commission chose to bring this case based upon its enforcement staff’s win-at-any-cost ambitions,” Mr. Cuban said. “The staff’s process was result-oriented, facts be damned.”
No comments:
Post a Comment