Mark Cuban fired back at the SEC, defending the sale of stock which has him facing charges of insider trading. 
Initial reports said the charges stemmed from his involvement in the IPO of a search engine called Mamma.com, but the sale in question was actually from a private investment in a public entity, also known as a PIPE. 
What is a PIPE?  Well, a PIPE differs from an IPO in a few ways.  An IPO is the first offering of securities to the general public.  PIPEs usually take place after a company has gone public and new securities are usually marketed to venture capitalists (instead of the general public).  Some …read more

One Maverick may be in some serious trouble!
The SEC has charged Dallas Mavericks owner, Mark Cuban, with insider trading.  The charges stem from Mr. Cuban’s involvement in the initial public offering of a Montreal based firm, Mamma.com.
IPOs are typically marketed to individuals with access to large amounts of wealth.  The SEC alleges that the Mamma.com IPO made its way to Mark Cuban in 2004 and he was offered the opportunity to buy the stock after he agreed to keep the information to himself.
According to AP reports, the Mavericks owner found out that his shares would be sold below the market price.  He then instructed …read more