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Originally Posted by alexamenos
It looks like the SEC's case boils down to the CEO of a failed company swearing that 4 years ago in an 8 minute cellphone call Mark Cuban made some solemn oath to that CEO. That looks pretty flimsy to me.
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no, it seems that the case boils down to phone and e mail records of when the info on the sale of the new shares was given to cuban and when cuban told his stockbroker to sell.
it seems that several of the calls may have been recorded as well, the complaint uses specific quotes on what was said.
the most damning quote is cuban saying that he "is screwed" as he admits he can't sell until after the info is made public....yet he did sell before the announcement.