Fox Business is reporting that a civil complaint has been brought against Mark Cuban for insider trading regarding "The Mother of All Search Engines" Mamma.com, which is owned by Copernic (CNIC).
Cuban learned that the company would be issuing a PIPE: a public investment and private equity. In other words, they were about to issue an additional stock sale. When he learned about it, he sold his stake, about 600,000 shares before the public announcement. He avoided losses of $750,000.
If the charges Cuban will have to give back the money with interest.
SES Denver (Oct 16) offers an intense day of learning all the critical aspects of search engine optimization (SEO) and paid search advertising (PPC). The mission of SES remains the same as it did from the start - to help you master being found on search engines. Early Bird rates available through Sept 12. Register today!