Why Cuban likely won't go to jail
| 09:50 AM11.18 | Posted By: Andrew Perloff | SHARE | | COMMENTS () |
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Mavs owner Mark Cuban is in hot water with the SEC.
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SI.com's Michael McCann joined the show to explain the details of the SEC's claims against Mavericks owner Mark Cuban. Cuban has been accused of insider trading for allegedly using confidential information on a stock sale to avoid more than $750,000 in losses.
-- McCann said this is very bad for Cuban. First, you never want the SEC to make a claim against you. For Cuban, this means owning a baseball team is suddenly much more difficult.
-- McCann said Martha Stewart went to jail because of a longer history of intentionally misleading authorities and bending the rules. He doesn't think Cuban will face that kind of allegation if this was just a one-time thing.
-- Dan asked McCann why now if Cuban sold the stock in 2004. McCann said perhaps someone related to the company gave up some information to the SEC just now. |
SI.com's Michael McCann joined the show to explain the details of the SEC's claims against Mavericks owner Mark Cuban. Cuban has been accused of insider trading for allegedly using confidential information on a stock sale to avoid more than $750,000 in losses.
-- McCann said this is very bad for Cuban. First, you never want the SEC to make a claim against you. For Cuban, this means owning a baseball team is suddenly much more difficult.
-- McCann said Martha Stewart went to jail because of a longer history of intentionally misleading authorities and bending the rules. He doesn't think Cuban will face that kind of allegation if this was just a one-time thing.
-- Dan asked McCann why now if Cuban sold the stock in 2004. McCann said perhaps someone related to the company gave up some information to the SEC just now.
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