Dallas Mavericks owner and dotcom jillionaire Mark Cuban has posted an SEC P2 filing to his personal blog. Cuban can run a team, but he's a bit sloppy trying to put the paperwork in context. In short: The SEC has accused Cuban of ordering the sale of his shares in Mamma.com in 2004, based on inside info, to avoid a $750,000 loss. Here's what Cuban is trying to say with his post:
- The SEC doesn't have a statement from anyone saying that Cuban knowingly ordered an insider trade.
- Regulators dropped an investigation of Mamma.com over allegations of securities-law violations days before starting their investigation of Cuban. Cuban's unspoken implication: Someone must have made a deal.
- Dallas Mavericks owner Mark Cuban, as seen on Dancing with the Stars, makes a better target for ambitious SEC staffers than the forgotten Mamma.com team.
- Oh, but Cuban's got a blog. Eat this, SEC!