Dancing With The SEC
Nov. 17 2008, Published 5:41 a.m. ET
Marc Cuban is in hot legal water.
The billionaire-entrepreneur owner of basketball's Dallas Mavericks -- and star of the 5th season of Dancing with the Stars, where he strutted his stuff with Kym Johnson -- has been accused of insider trading by the Securities and Exchange Commission.
According to a civil action filed by the SEC, Cuban sold his 6% ownership stake of Mamma.com when he learned it was going to seek money through a private offering.
- Johnny Depp's Longtime Pal, Legendary Rock N' Roll Guitarist Jeff Beck Dead At 78
- Prince Harry & Meghan Markle’s Tell-All Netflix Series Delayed To 2023 After Attacks On ‘The Crown’
- Dianne Feinstein Refuses To Retire Before Her Senate Term Ends In 2024 Despite Colleagues Arguing She Is 'Mentally Unfit To Serve'
On June 29, the day after he bailed, the company saw its share plummet over 10%.
That saved Cuban a quarter-million dollars.
Gonna take some fancy footwork to get out of this one.