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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: anniebonny who wrote (105302)11/23/2008 6:32:19 PM
From: Jeffrey S. Mitchell  Read Replies (1) of 122087
 
Upon further review, the SEC Complaint against Cuban is way too "convenient":

The CEO [of Mamma.com] was instructed [by Merriman, the investment bank] to contact Cuban and to preface the conversation by informing Cuban that he had confidential information to convey to him in order to make sure that Cuban understood – before the information was conveyed to him – that he would have to keep the information confidential.

Followed by:

The CEO prefaced the call by informing Cuban that he had confidential information to convey to him, and Cuban agreed that he would keep whatever information the CEO intended to share with him confidential.

I can see Merriman suggest that the CEO give Cuban a call. The bigger the investment the bigger the commission. Why screw it up by having the CEO say something that might cause Cuban to not listen? What point is there to school the CEO? Makes no sense. The SEC doth protest too much, IMO.

As for what the CEO allegedly told Cuban, which is the entire basis for this case, unless there's a tape somewhere (which, given subsequent comments by the CEO published by Cuban, there appears not to be), this is a he-said he-said case at best. So why bother-- unless, as Cuban has suggested, there's a vendetta involved here. Or, perhaps, as the author suggests, the suit is a diversionary tactic. Or both.

- Jeff
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