Peter Kafka

Recent Posts by Peter Kafka

Mark Cuban Beats the SEC: Judge Tosses Insider-Trading Case

cuban

A federal judge has dismissed the Securities and Exchange Commission’s insider-trading case against Mark Cuban, the AP reports. Astonishingly, Cuban has yet to say anything about this on his blog or his Twitter account. But I assume that will be rectified shortly.

UPDATE: That took a while–nearly two hours by my estimate. But here’s Cuban’s initial post-court Tweet (click to enlarge):
cubantweet

At the D7 conference in May, Cuban declined to talk about the case, which revolved around allegations that he dumped shares he owned in search engine Mamma.com after learning of a secondary offering. But even his noncomment was interesting. From my transcript of his  interview with Kara Swisher and Walt Mossberg:

“Kara and Walt: Tell us about your fight with the SEC? Mark: No. [Pause] ‘When someone in the government wants you, it’s not a good place to be. You don’t want to be someone’s skin on the wall.’ Kara: ‘Do you know how it’s going to turn out?’ Mark: ‘Yes.’”

Here’s a highlight reel of the interview; you can see the entire session here.


Latest Video

View all videos »

Search »

Another gadget you don’t really need. Will not work once you get it home. New model out in 4 weeks. Battery life is too short to be of any use.

— From the fact sheet for a fake product entitled Useless Plasticbox 1.2 (an actual empty plastic box) placed in L.A.-area Best Buy stores by an artist called Plastic Jesus