From the Things That Make Me Sad department: SEC charges Mark Cuban with insider trading for dumping shares of search-engine also-ran mamma.com upon discovering Mamma was smoking the PIPE.
So glad there is absolutely nothing of interest going on in the markets that could be of import, leaving the SEC with infinite resources to go after someone who dumped a small-cap stock upon realizing it was privately placing its shares on the cheap. To quote Cuban himself: “If you don’t follow the stock market, you are missing some amazing drama.” Patrick Byrne was not available for comment, but if he were, it probably would have gone something like this: “Tee hee! One less Sith Lord!”
If you’re wondering why Mark Cuban would’ve invested in a dog like this in the first place, check out his Blog Maverick post from 2004 (now deleted from the main site, but the Internet Wayback Machine never forgets).
Lolo, ESQ // Nov 17, 2008 at 1:22 pm
who fucking gives a shit
Patrick Byrne // Nov 23, 2008 at 2:49 am
Not the best analysis, frankly. For one reason, a city that tolerates mildly illegal but truly anti-social behavior finds it harder to stop serious crime. Moreover, the possibility that Cuban is a scofflaw is a possibility to which the SEC has apparently if belatedly awoken. The way to stop a scofflaw may be to confront him about his less egregious, but more easily proven, offenses.
Patrick Byrne