According to e-mails leaked to the New York Times, one of those people worked in the Securities & Exchange Commission's Fort Worth office.
According to the Times, email sent from the account of Jeffrey B. Norris, an S-E-C lawyer, taunted Cuban saying: "If this upsets you, I wonder how George Bush feels." The e-mail was copied to Christopher Cox, the chairman of the S-E-C.
Norris wrote: "I assume that Mr. Cox would view your involvement with 'Loose Change' much as I do. After all, he served his country as a Republican Congressman from Orange County for nearly 20 years and was appointed by President Bush."
"I've never seen a communication like that before, I've never seen an exchange like that before from somebody at the S-E-C," said Neal Newman, Texas Wesleyan University Law Professor.
Newman specializes in securities law. He interned at the S-E-C during law school. He agreed the e-mails are highly irregular. "It does make you say, hmmmm - what exactly prompted, how did Mark Cuban get on the radar? Hard to say."
Part of Cuban's brief web statement may have been referencing the e-mail exchange when he said - "the staff's process was result-oriented, facts be damned."
In the end, how much will the e-mail matter? "In terms of the merits, I would expect that to stand alone - whether it rises to the level of insider trading would be the ultimate question," said Newman.
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