The SEC has charged Mark Cuban – the Billionaire Entrepreneur & Owner of the Dallas Mavericks , Landmark Theaters & HDNet with Insider Trading by using confidential information on a stock sale of Mamma.com to avoid more than $750,000 in losses.
Mark Cuban responded ” The governments claims are false and they will be proven to be so.”
For all Aspiring Entrepreneurs here’s what Mr. Cuban looks for in a potential business investment – and PS: Best of Success in Everything Mark , Sir.
Meanwhile Friday , to Avoid BANKRUPTCY by not meeting obligations to its lenders on a $3.8 billion portion of its $8.8 BILLION debt – WITHOUT SHAREHOLDER APPROVAL – Las Vegas Sands Corp [LVS] NYSE – said it sold 200 million common shares for $5.50 apiece for $1.1 billion – DILUTING the Common Stock Shareholders Holdings.
The company also sold 5.2 million units consisting of one share of preferred stock plus a warrant to buy stock at $6 a share. The units sold for $100 each.
Founder and Chief Executive Sheldon Adelson and his wife also purchased roughly 5.25 million shares of preferred stock and warrants at the same terms as the public offering. The warrants included in the public offering and sale to the Adelsons could raise an additional $1.04 billion.
GREAT for the Adelson’s – TERRIBLE for POOR JOE – the COMMON STOCK Shareholder of LVS. the financial viability of the company has been seriously jeopardized – it more than doubles the number of outstanding shares and significantly dilutes shareholder value.
If you’re a common stock shareholder of LVS you’re Nuts to not SELL and get out. You DO NOT MATTER at ALL , at ALL , At ALL.
Las Vegas Sands is also looking to address some in-house concerns , disclosing in an SEC filing last week that its board created a committee to evaluate the company’s decision making and resolve disputes between Adelson and other senior managers. The filing said the committee was formed to address “a loss of confidence” by managers in how the company is being run.
Singapore is looking for ways to avoid ending up with a mammoth unfinished project on a prominent piece of land if US casino operator Las Vegas Sands Corp. is unable to complete a $4.9 billion gaming venture. The developer and operator will delay the completion at best or could end up unable to fulfill the contract. There are alarm bells all over the place. Singapore government officials are making contingency plans if the financing falls through – They are looking for a plan B , if things turn sour.
LVS will lay off as many as 11,000 construction workers in Macau after a cash crunch forced it to halt construction on multibillion dollar projects in the gambling mecca. The Global Financial Crisis has battered casino operators , and once booming growth in Macau has slowed as visa restrictions on visitors from mainland China hurt business.
Not a Bright Outlook for LVS , the company should go Private – instead of Ripping Off common shareholders. How is taking the Stock[LVS] off the Board [halt trading] for 3.5 hours with stock at $8 DILUTION of the Stock , and begin trading again at $5 – How is that not INSIDER TRADING , MR SEC?
Sheldon Adelson Benefitted From INSIDER INFORMATION & INSIDER TRADING. Investigate that SEC.