Tags: billionaire | Cuban | powwow | SEC

Acquitted Billionaire Wants Powwow with SEC Chief

By    |   Wednesday, 20 Nov 2013 05:23 PM

Billionaire businessman Mark Cuban, who was acquitted of insider trading charges last month, wants a face-to-face meeting with Mary Jo White, chairman of the Securities and Exchange Commission.

Cuban, who owns the NBA's Dallas Mavericks, says the SEC brought the charges against him because he's famous.

Cuban told The Washington Post that he has sought to contact White through "backdoor channels" to arrange a get-together.

Editor’s Note: 5 Reasons Stocks Will Collapse . . .

"I’d like to just sit down with her," said Cuban, who appears on "Shark Tank," a reality TV series. "They are trying to make the markets fair, but they just don’t know how to get there."

To be sure, defendants rarely or ever get to meet the SEC chairman after a trial. And White has no intention of changing that policy, a person familiar with the agency’s thinking told the Post.

This person said Cuban hasn't made a formal request for a meeting.

One of the SEC's problems is that it's more concerned about winning cases in court than increasing investor confidence and market equality, Cuban says. He has publicly criticized the agency for its conduct in his case since it ended.

Lyle Roberts, Cuban's lawyer, attacked the SEC in a Wall Street Journal opinion column this week. "In pursuing insider-trading claims, the SEC often appears to be making up the rules as it goes along," Roberts wrote. "This is not healthy behavior for government law enforcement."

Editor’s Note: 5 Reasons Stocks Will Collapse . . .

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Billionaire businessman Mark Cuban, who was acquitted of insider trading charges last month, wants a face-to-face meeting with Mary Jo White, chairman of the Securities and Exchange Commission.
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2013-23-20
Wednesday, 20 Nov 2013 05:23 PM
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