Dancing With The SEC
Posted on Nov 17, 2008 @ 03:41PM
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.
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.
Today's Hot Photos
Wearing a t-shirt with the words "I'm beading cancer", Zac Efron leaves the Children's Hospital in Los Angeles after spending almost an hour inside with sick kids. As he left, the 'High School Musical' star was surrounded by hospital staff who wanted to thank him for his visit. (Photo: Splash News)
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