Cuban: No Confidentiality Agreement

November 19, 2008 in Insider Trading by Dave Westheimer | No comments

Attorneys for Mark Cuban on Tuesday fired back at the SEC on Cuban’s Blog Maverick, disputing the SEC’s claim that Cuban agreed to keep confidential the information he was given about a proposed stock sale at Mamma.com Inc. The entry excerpts their transcribed interview with former Mamma.com CEO Guy Faure:

CHRISTOPHER CLARK :

1) Q- We spoke earlier about you were telling Mr. Cuban in words or substance : “I have confidential information for you”.

A- Right.

2) Q- Do you recall anything Mr. Cuban said in response or reply to that statement by you ?

A- No, I do not.

They also ask:

Why did the SEC end their multi-year investigation of Mamma.com Inc. for alleged securities laws violations days before interviewing present and former Mamma.com Inc. executives about this matter? Was the timing a coincidence? We think not.

Reuters has more.