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Civil Complaint Brought Against Mark Cuban for Insider Trading Regarding Mamma.com

johnson-nathania
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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.

Related Reading:
Cuban's IceRocket Sold To Think Partnership
Yahoo Confirms Icahn Proxy Fight


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