Reporting from Chicago — Mark Cuban, Internet entrepreneur and owner of the Dallas Mavericks, was charged with insider trading today related to the stock of an online search engine, the Securities and Exchange Commission said.
The SEC alleges that in June 2004, Mamma.com Inc. invited Cuban to participate in a stock offering that would be conducted at a discount to the company's prevailing market price. Within hours of receiving this information, according to the civil complaint, Cuban called his broker and instructed him to sell his entire position in the company.
