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Cuban Cigars Being Handed Out for Free


Guest ValueCarl
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Guest ValueCarl

Before I get raptured up by a free CUBAN cigar at "negative interest," I must get more educated on the audacity of such a dubious player who quotes a Rothschild and Buffett in the same sentence, while partially "misquoting" Buffett I might add.

 

I believe the Buffett quote is, "You pay a DEAR price for a CHEERY consensus." Mr. Buffett is better at rhyming than Mr. Cuban, apparently.

 

How Martha Stewart precedents weren't somehow applied to this Frankenstein operator, is beyond me. imo

 

Sale of Stake

 

Cuban avoided $750,000 in losses by ordering the sale of his 6.3 percent stake in the Montreal-based company now called Copernic Inc. within hours of talking to Guy Faure, then Mamma.com’s chief executive, the SEC alleged. The stock fell 8.5 percent on June 30, the first trading day after the private placement was announced, and 15 percent the day after Cuban’s sales were disclosed in a regulatory filing made public July 2, according to Bloomberg data.

 

The agency claimed Cuban agreed with Faure at the beginning of their call to keep the information confidential and told Faure after learning details of the plan, “Well, now I’m screwed. I can’t sell.”

 

Fitzwater dismissed the case, ruling that Cuban didn’t agree not to trade on the information, only to keep it confidential.

 

“The SEC has failed to allege that Cuban undertook a duty to refrain from trading on information about the impending” private placement offering, Fitzwater wrote in his opinion.

 

‘Explicitly Agreed’

 

The U.S. believes that Cuban “explicitly agreed not to use the information,” Quinn, the SEC lawyer, said today. “He agreed not to use it and he used it. That’s deception,” he told the judges.

 

Mamma.com was never defrauded and Fitzwater’s dismissal of the SEC suit should be upheld, Cuban’s attorney Lyle Roberts told the appeals court today. The judge had correctly looked at “the four corners of the complaint,” he said.

 

“You don’t think there is a little fraud here?” U.S. Circuit Judge Carolyn D. King asked Roberts at today’s hearing. “Fraud in the air, so to speak?”

 

“No, your honor,” Roberts replied.

 

“Somebody lost $700,000 because he didn’t have that same information, right?” U.S. Circuit Judge Patrick E. Higginbotham asked Roberts at the hearing.

 

The judge was “technically correct,” Roberts told Higginbotham. “What you’re describing is financial unfairness. You’re not describing fraud.”

 

http://www.bloomberg.com/news/2010-08-02/mark-cuban-fights-sec-s-effort-to-revive-insider-trading-allegations.html

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Guest ValueCarl

After much meditation and introspection, I have come to a final decision about "The People" in their quest to munch on free Cuban cigars.

 

Cuban cigars are no longer worth the PREMIUM, they once may have been.  In addition, some Cubans belong in jail. >:( imo

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