“The case stems from Cuban’s June 2004 sale of 600,000 shares of Mamma.com, soon after he had supposedly learned of an equity offering that could depress the Montreal-based Internet search company’s stock price.  The SEC said the sale let Cuban avoid a roughly $750,000 loss on his 6.3 percent stake. While the SEC has become more aggressive in pursuing higher-profile defendants, a description that fits the charismatic Cuban, Monday’s trial comes in a case that predates that push.  Cuban, who might have tried to settle with the SEC for a fairly small sum, has been battling the regulator for nearly five years.”

http://www.cnbc.com/id/101071205

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