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&lt;p&gt;Yesterday, billionaire blogger Mark Cuban was charged with insider trading in a civil suit filed by the SEC. Cuban is alleged to have sold shares of &lt;strike&gt;&lt;span style=&quot;FONT-SIZE: 12pt; FONT-FAMILY: &#39;Times New Roman&#39;; mso-fareast-font-family: &#39;Times New Roman&#39;; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA&quot;&gt;Google wannabe&lt;/span&gt;&lt;/strike&gt; internet search company Mamma.com (&quot;The Mother of All Search Engines&quot;) just before its share price fell, thereby saving himself a $750,000 loss.* The complaint alleges that Cuban acted on the knowledge that an impending offering by Mamma.com would dilute the share value of existing shareholders, himself among them. &lt;/p&gt;&lt;p&gt;The redoubtable Professor Bainbridge takes a look at the charges and concludes that the SEC has a &quot;pretty good case&quot; which hinges on whether it can be proven that Cuban assumed a fiduciary obligation of confidentiality regarding Mamma.com. The professor concludes with this bit of editorializing: &lt;/p&gt;&lt;p&gt;&lt;em&gt;I suspect it was not greed but rather his legendary temper that did him in. The PIPE transaction Mamma.com planned would have involved the issuance of new shares at a below market price. It would have diluted the economic value and voting rights of Cuban and the other pre-PIPE investors. The complaint makes clear that Cuban was furious about the planned sale. His anger led him to a rash act, which now could result in serious civil fines.&lt;/em&gt; &lt;/p&gt;&lt;p&gt;Cuban&#39;s defense is in the hands of Ralph Ferrara of Dewey &amp;amp; LeBouef. &amp;nbsp;&lt;/p&gt;&lt;p&gt;*A little perspective:&amp;nbsp; Cuban, in his capacity as owner of the Dallas Mavericks, once was fined $500,000 by the NBA for&amp;nbsp;saying that he would not hire the league&#39;s chief official to &quot;manage a Dairy Queen.&quot;&lt;/p&gt;&lt;p align=&quot;right&quot;&gt;-posted by brian&amp;nbsp;&lt;/p&gt;&lt;p align=&quot;left&quot;&gt;UPDATE: &quot;My brother is not Martha Stewart&quot;&lt;/p&gt;

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