Yikes!

http://www.post-gazette.com/pg/08322/928639-100.stm?cmpid=latest.xml

The SEC wants billionaire Cuban to return the $750,000-with interest--as well as pay a civil penalty, though it was not specified.

http://www.broadcastingcable.com/article/CA6615137.html

I don't see how this would affect HDNET. Like Martha Stewart, $750,000 with interest is pocket change to Mr. Cuban. Shame on you for being so petty in the first place, Mark!

Insider trading happens all the time, every day, but it usually doesn't warrant an SEC investigation unless it's particularly brazen. It's a tough crime to prove. Some people have access to information most others don't; it's how the rich get richer.

But it shouldn't affect either the Mavs or HDNet in any way.

Cuban: SEC Charges Are False

Cuban lawyers counter-charge that SEC is guilty of misconduct

By John Eggerton -- Broadcasting & Cable, 11/17/2008 2:04:00 PM

In a posting on his blog Monday, attorneys for HDNet Chairman Mark Cuban charged the SEC with misconduct and called the commission's insider trading complaint filed against Cuban Monday meritless.

"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," said attorney Ralph C. Ferrara, an attorney with Dewey & LeBoeuf in Washington, according to the blog.

Said Cuban: “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.”

The often voluble Cuban said he wanted to say more, but would let the legal process "do its job."

Cuban founded HDnet after co-founding broadcast.com, then selling it to Yahoo! for over $5 billion. He also owns the Dallas Mavericks and the Landmark theater chain.

http://www.broadcastingcable.com/article/CA6615255.html

Insider trading happens all the time, every day, but it usually doesn't warrant an SEC investigation unless it's particularly brazen. It's a tough crime to prove. Some people have access to information most others don't; it's how the rich get richer.

But it shouldn't affect either the Mavs or HDNet in any way.

Cuban probably could wipe his backside w/ $750,000 and not bat an eyelash - unless those bills were particularly crisp, of course.....;)

The Mavs & the HDNets will survive.....

Insider trading happens all the time, every day, but it usually doesn't warrant an SEC investigation unless it's particularly brazen.

I think the SEC also makes a point of pulling out high-profile offenders to specifically make a lesson of them. The cost (in this case $750k) likely has something to do with it as well.

Meanwhile, its been two months since our favorite HDNet employee (kmeisenbach?) posted highlights, and I am personnally missing them. :)

Meanwhile, its been two months since our favorite HDNet employee (kmeisenbach?) posted highlights, and I am personnally missing them. :)

Hi Bruce,

the HDNet Movies team is now posting the highlights every month -

here's the link to November-

http://www.avsforum.com/avs-vb/showthread.php?t=1079979

HDNET's future in jeopardy? You must be kidding.

It's hard to believe anyone worth close to two billion dollars, even at today's low rate, would put themselves at legal risk for a measly $750,000.

Further, having followed Mr. Cuban's exploits for many years, I don't think the charges are plausible. We shall see.

And finally, this has zero bearing on HDNet. Topic title edited.

To the government, plz bail out HDNET, signed the consumer. ;)

...and besides, if Mark ever needed a job I'm sure Dan Rather would hire him to do market analysis for Dan Rather Reports.

(just kidding, please don't hire any ninjas to hunt me down and kill me)

You must be kidding.

It's hard to believe anyone worth close to two billion dollars, even at today's low rate, would put themselves at legal risk for a measly $750,000.

Further, having followed Mr. Cuban's exploits for many years, I don't think the charges are plausible. We shall see.

And finally, this has zero bearing on HDNet. Topic title edited.

In addition Mark Cuban is not the sole owner of HDNet.

You must be kidding.

It's hard to believe anyone worth close to two billion dollars, even at today's low rate, would put themselves at legal risk for a measly $750,000.

Further, having followed Mr. Cuban's exploits for many years, I don't think the charges are plausible. We shall see.

And finally, this has zero bearing on HDNet. Topic title edited.

Yeah wasnt serious -- just wanted to find an excuse to post it

Hi Bruce,

the HDNet Movies team is now posting the highlights every month -

here's the link to November-

http://www.avsforum.com/avs-vb/showthread.php?t=1079979

Ok thanks Karl!

Yeah wasnt serious -- just wanted to find an excuse to post it

Sorry, don't buy it. Be honest. You were serious.

I read that article and wondered if anyone would actually post and ask the question you did.

First McCain and now Cuban, its not a good year for Mavericks.

Insider trading happens all the time, every day, but it usually doesn't warrant an SEC investigation unless it's particularly brazen. It's a tough crime to prove. Some people have access to information most others don't; it's how the rich get richer.

But it shouldn't affect either the Mavs or HDNet in any way.

seems to me they could nab just about any rich person they want any time. rich people know other rich and connected people, precisely the sort of people who would have inside info. if I hear credible info from somebody a stock I own is going to tank, am I just going to sit on it and do nothing? yeah I guess I'm supposed to but it;s awfully hard to do.

insider trading must take place all the time. if you're rich AND famous like Cuban or Martha, you're just more likely to draw attention and get caught.

Sorry, don't buy it. Be honest. You were serious.

I read that article and wondered if anyone would actually post and ask the question you did.

Naw, the dudes loaded. I just wanted to keep it HD relevant so I didn't upset Ken haha

seems to me they could nab just about any rich person they want any time. rich people know other rich and connected people, precisely the sort of people who would have inside info. if I hear credible info from somebody a stock I own is going to tank, am I just going to sit on it and do nothing? yeah I guess I'm supposed to but it;s awfully hard to do.

insider trading must take place all the time. if you're rich AND famous like Cuban or Martha, you're just more likely to draw attention and get caught.

Yeah, that's how it works. A stockbroker hears something, maybe, and he calls his best clients, the ones who do great gobs of trading with him, and passes along a "tip". And people with connections just hear things, all the time. From what I've read of the case, Cubes was informed and acted on that information. It must be airtight enough that the FTC could put together a case and make the charge. He doesn't feel he did anything wrong, of course, but the facts may say otherwise; he'll get his day in court. But that kind of stuff is done hundreds of times a day, probably.

In any event, the larger point is that it's a civil action, not a felony. He makes restitution, pays the fine, and that's it. Nothing that should affect his life much, unless it throws a monkey wrench into his plans to acquire the Cubs. In which case, maybe it's a blessing in disguise. :D

First McCain and now Cuban, its not a good year for Mavericks.
Of course, Cuban's Mavs beat my Knicks. Probably won't be hearing from Mark here on avsforum anytime soon.

if hdnet is in jeopardy it's not due to cuban's legal woes

To the government, plz bail out HDNET, signed the consumer. ;)

Now thats funny!