Could this be the first time someone posted a response to an insider trading charge on their blog? Mark Cuban, dinged today by the SEC, puts the following up on Blogmaverick:
I wish I could say more, but I will have to leave it to this, and let the judicial process do its job.
November 17, 2008
RE: SEC Civil Action in the United States District
for the Northern District of Texas, Dallas Division
Mark Cuban today responded to a civil complaint filed by the United States Securities and Exchange Commission in the United States District for the Northern District of Texas, Dallas Division. In its complaint, the Commission charges that Mr. Cuban engaged in violations of the federal securities laws in connection with transactions in the securities of Mamma.com Inc.
This matter, which has been pending before the Commission for nearly two years, has no merit and is a product of gross abuse of prosecutorial discretion. Mr. Cuban intends to contest the allegations and to demonstrate that the Commission’s claims are infected by the misconduct of the staff of its Enforcement Division.
Mr. Cuban stated, “I am disappointed that the Commission chose to bring this case based upon its Enforcement staff’s win-at-any-cost ambitions. The staff’s process was result-oriented, facts be damned. The government’s claims are false and they will be proven to be so.”
The Dallas Mavs owner has cultivated a big following over the years, and judging from the comments (very cool that he left them open!), his fans are sticking by his side:
- Mark, I’ve always admired you. I hope for you and your family, it ain’t so. Kevin Mc Comment by macwriter — November 17, 2008 @ 1:25 pm
- Don’t let those zealous bureaucrats get to you, I’m rooting for you. Comment by Pierre — November 17, 2008 @ 1:27 pm
- I was looking for you to post about this. I am behind you 100%. I know you are a great guy and you do wonderful things for everyone. I know these charges are ridiculous. My thoughts and prayers are with you. You will come out of this a stronger person and you will be a brighter star. God takes us through struggles to get us to heaven! This is just a test. Comment by Jen — November 17, 2008 @ 1:32 pm
That’s just a few of what will probably be several hundred comments coming up in the next hours. We suspect he’ll keep his word and that he won’t be posting much more on this.
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