Mark Cuban Posts Strange Email From Former Head Of SEC, Linda Thompson
We can’t help but think the look on Mark Cuban’s face when he first read the SEC internal emails regarding his case (found below) must have been similar to the picture above. Mark Cuban has clearly had enough of the Security and Exchange Commission, and he’s taken to social media to express his frustration..
The SEC accused the billionaire Dallas Mavericks owner of insider trading when he sold his 6.3% of Mamma.com in 2004. The SEC claimed that Mamma.com chief Guy Faure confidentially told him the company planned a private offering of its stock. Although Faure admitted to providing Cuban with this information, which the agency claims saved Cuban from a $750,000 loss, Cuban claims that by the time he’d sold his stock, the information was already public, and that there were several other reasons he’d sold the stock.
Outside of courthouse steps when Cuban won the case, he told press, “It’s personal,” Cuban said. “When you put someone on the stand and accuse them of being a liar, it’s personal.”
His defense lawyer, Stephen Best, had similar sentiments. “This case should have never been brought to trial,” he said.
And now Cuban is definitely taking the actions personally. Today, Cuban took to Twitter to publicize blog posts slamming the SEC for its behavior.
— Mark Cuban (@mcuban) October 25, 2013
His most recent blog posts is titled “When the SEC does its homework, it REALLY does its homework.” In the blog post, he displays an email from then Head Enforcement at SEC, Linda Thompson (now of Davis & Polk law firm) that reads: “Now I feel fully informed. The picture with the money is particularly helpful and speaks 1,000 words (if not more).”
She refers to pictures of Cuban which include a picture of himself smiling at an ABC event, a picture of him yelling, and a picture of him cradling money.
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