Get Your Fresh Intelligence Daily

SUBMIT

Dancing With The SEC

Embedded Image

Nov. 17 2008, Published 5:41 a.m. ET

Link to FacebookShare to TwitterShare to Email

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.

Article continues below advertisement

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.

Advertisement

© Copyright 2021 Radar Media Group LLC. Radar and RadarOnline are registered trademarks. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.