I wish I could say more, but I will have to leave it to this, and let the judicial process do its job.
November 17, 2008
RE: SEC Civil Action in the United States District
for the Northern District of Texas, Dallas Division
Mark Cuban today responded to a civil complaint filed by the United
States Securities and Exchange Commission in the United States District
for the Northern District of Texas, Dallas Division. In its complaint,
the Commission charges that Mr. Cuban engaged in violations of the
federal securities laws in connection with transactions in the
securities of Mamma.com Inc.
This matter, which has been pending before the Commission for nearly
two years, has no merit and is a product of gross abuse of
prosecutorial discretion. Mr. Cuban intends to contest the allegations
and to demonstrate that the Commission’s claims are infected by the
misconduct of the staff of its Enforcement Division.
Mr. Cuban stated, “I am disappointed that the Commission chose to
bring this case based upon its Enforcement staff’s win-at-any-cost
ambitions. The staff’s process was result-oriented, facts be damned.
The government’s claims are false and they will be proven to be so.”
