Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: anniebonny who wrote (105347)	11/23/2008 11:47:59 PM
From: Jeffrey S. Mitchell	Read Replies (2) of 122087

Annie, you are making the assumption that selling on mere knowledge of non-public information is insider trading. Based upon what I've been reading about the subject, it's apparently not. Cuban was not an officer or director. Cuban did not own at least 10% of the company. Therefore, Cuban was merely a shareholder. If a CEO blurts out confidential info to a shareholder, it's apparently a Reg FD violation on the CEO, but it has no standing for the shareholder (or else CEOs could just blurt out confidential info as a means to prevent large shareholders from selling). So unless there's strong evidence to show, as the SEC alleges, that Cuban was told the info was confidential and thus a trust was formed that he violated, there's no case here. Simple as that, IMO. - Jeff

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