Mark Cuban, the owner of basketball team Dallas Mavericks, has been sued by U.S. regulating authorities because of their allegations he sold illegally the shares of Mamma.com Inc. Mark Cuban had received insider information that Mamma.com planned to sell its stock below its trading price in 2004. Mark Cuban acted upon this information and sold his 6.3 % stake in Mamma.com. Mark Cuban allegedly avoided about $750K in losses as he sold before Mamma.com’s sale of shares below stock value was announced.

Mark Cuban has denied the charges. Nobody from his camp was willing to give any press statements. The details of Mark Cuban’s alleged insider trading in mamma.com shares are at the link.

Mark Cuban’s wife is Tiffany Stewart. Stewart was born in 1972. Before her marriage, Tiffany Stewart worked as an advertising executive. Tiffany Stewart married Mark Cuban in September 2002. Mr and Mrs Mark Cuban have two children. Their daughter Alexis Sofia Cuban was born in September 2003. Thier second daughter, Alyssa Cuban, was born in 2007.

Please click here for more recent posts.

This entry was posted on Monday, November 17th, 2008 at 3:57 pm and is filed under News.