That Awkward Moment on the Witness Stand when the SEC asks me about the Lakers and I get to quote Randy Galloway

During my interrogation by SEC attorney Jan Folena there were a lot of  interesting moments.
Some from my viewpoint seemed to make her physically shake.  My experience in the witness box was not anywhere near what I expected.
Particularly the actions and responses of Ms Folena.
IMHO she didn’t appear to have a strong connection to this case. As she told my team during the trial “I’m just here to litigate”.
This is her “just litigating”
The Q is SEC Jan Folena. The A is my response to her questions

Q. Okay. Now the information you post on Blogmaverick Mr. Cuban, that’s true information, correct?

A. No, it’s not meant to be literal at all. It’s meant to communicate a point. It’s meant to get an opinion out there. It’s — it’s not — I’m not a reporter. It’s just, you know, some different ideas that I throw out there because part of the beauty of a blog is that people give you comments back. So it’s not meant to be literal, but I certainly do share my ideas.Q. Okay. But the ideas that you share are — are — are ones that are yours, correct?

A. Yeah, they’re my ideas, my opinions. But, again, none of this is meant to be a hundred percent literal. A lot of it is meant to create feedback. I want to know what people thought. There’s a guy on the radio here, Randy Galloway, and he always says it’s smart to check your hole card. So one of the things I like to do is throw out ideas that are going to gain a response.

So that’s why I entitled it “Why do people fall in love with stocks?” because it’s not — you know, people fall in love with stocks, and it’s just a stock. It’s not meant to be literal. I don’t think people fall in love with their stocks in a literal sense

Q. Okay. My question wasn’t whether it’s meant to be literal. My question was if you post an opinion or idea on there, that’s an opinion or an idea that you honestly hold; isn’t that right, sir?

A. Not a hundred percent of the time, no. Again, a lot of times I’m trying to get people’s response to something.

Q. Okay. So it’s possible then, sir, that — that what you’re tell me is you post ideas and opinions on blogmaverick that are not true?

A. I wouldn’t characterize it as not true. I might talk about the Lakers. I might talk about a family thing. You know, again, it’s not about true. It’s just about trying, you know, to send a message or get a point across or get feedback. That’s what blogs are for.

Q. I understand that. I’m not saying you ever have, but this is an example. If you post on your blog that you think the Lakers are going to stink in 2013, okay, you’re not telling this jury that that’s an opinion that you don’t honestly hold, right

A. This year?

(Laughter)    ***This is the court reporters notation of laughter, not mine.  The entire courtroom cracked up****

Q. I’m saying as an example, if you said that

 A. Well, no. In 2004 I wouldn’t say it. They had Shaq,  they had Kobe, they actually went to the finals.  So — no.  And, yeah, if I said that they stink — To answer your  question, if I said in 2004 that they stink, I didn’t believe it

Q. You didn’t believe it

A. No.

50 thoughts on “That Awkward Moment on the Witness Stand when the SEC asks me about the Lakers and I get to quote Randy Galloway

  1. Congrats on successfully defending yourself… It’s inspiring and encouraging to see someone who has the means stand up to an over reaching US Federal agency and WIN!!! I caught something from an older blog post I just had to ask you about: “alien abductions (accept for the true ones of course :)” Do you really believe extra terrestrials have visited earth? I worked for the DOD on Black Programs that were tested at Area 51, there IS a conspiracy that has gone on since the Roswell Incident and it continues today. I have a script about it, maybe someone at 2929 or Magnolia would like check it out and asses the value in presenting the truth.

    Comment by Byron Olson (@ByronDesignProd) -

  2. Mark,
    Congrats on your court victory. Here’s to all of us who have ever taken a stand on principle ( holding a beer up ).
    Have just read your interview with Maria Bartiromo in Money/USA Today (11/18 ), I saw my own words in your response to question #5…” Because I hate to be bullied. I love this country…….I have the resources to fight. I felt compelled to take up the fight.”
    Several years ago, I had my 18 wheeler stolen ( wrongful repo ). Turned into the scariest night of my life. I sued and won ( took 3 years). I often gave the same reasons. Of all the times they did it before,I was the only one to stand up and sue. It took time and money. I could….so I did. Someone had to. It was principle. Way to go!

    Comment by trickledownfreedom -

  3. Mark great work. Honesty and truth always wins! Were all proud of you standing your ground! Andrew J. Hillman Dallas

    Comment by Andrew Hillman -

  4. I am very glad that you stood up to the lawyers at the SEC and the financial economists in the Kelley School are cheering! Your comments to Maria about the SEC being an organization run by attorneys for the purpose of enhancing their careers is dead on. I was an economist at the SEC during the Milken era (1988-1990). We had exactly the same opinion as you did– hell, we even used the same language. We used to try to reorient cases and occasionally were successful. As a result the lawyers “institutionalized” the financial economists who are now more effective than ever.

    Comment by Charles Trzcinka -

  5. This comment is not brought to you, dear reader, from Mark Feathers or his website. :)

    I’m glad you shared this courtroom hilarity on your blog. Reminds me of the prosecution of the founders of The Pirate Bay as shown in their doc and also a former roommate of mine who represented himself and trashed the local prosecutor.

    Comment by bigdaveallan -

  6. thanks for blogmaverivk.com , from cincin kawin

    Comment by bengkel cincin -

  7. Hello! We are students in a leadership class from Cleveland State University in Cleveland, OH and our group is doing a research project on our favorite leader: you of course! We have a quick question for you: What has driven or inspired you to become the billionaire mogul you are today?
    Thank you so much! We know you are very busy and it would mean a lot to us if we heard back from you.
    P.S. We love watching you on Shark Tank. Go Mavs!

    Comment by Mary Mohr -

  8. Mark – Thanks for fighting and Congrats on winning!

    Comment by Jeff Schrock -

  9. Like to see how SEC turned the power of the word “Ponzi” to its own advantage? Like to see a blatant example of how SEC used the word Ponzi as a decoy to SEC fraudulent financial illustrations, and the fraudulent appointment of a receiver who is a millionaire from SEC receivership referrals? Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  10. Hey Mark, dealing with a SEC case of my own dealing with corrupt SEC people. Would like to get the chance to ask you a few things. Any way to talk via email?

    Comment by Brian Staples -

  11. Like to see an example of SEC’s absolute and corrupt power in federal court’s, and its ability to win a summary judgment without a single witness interviewed at deposition, or testifying in front of a jury, and despite SEC admitting fraudulent financial illustrations and despite fraudulently having their own hand-picked receiver designated? Unless you have millions to spend in a lawsuit, you don’t even have a chance. Or perhaps YOU CAN’T HANDLE THE TRUTH. Is this what this country is now about? Looking for the truth about SEC’s corruption from the top down?

    Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  12. Need examples of SEC’s frauds for your own lawsuit? go to http://www.markfeathers.com

    Comment by Mark Feathers -

  13. Like to see an example of a $1 million (cost) “forensic accounting report” produced by other than a CPA, riddled with errors, material omissions, and illusory to support SEC’s and the receiver’s and his own causes? Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  14. Looking to hire an SEC CPA, with more than two decades of experience, who will provide fraudulent financial illustrations to a court of law on your behalf? Contact John Bulgozdy, Esq., of SEC (bulgozdyj@sec.gov) and ask him to put you in touch with his partner in the SEC Enforcement Division, Roger Boudreau, CPA.

    Comment by Mark Feathers -

  15. Looking for a federal equity receiver who operates in fraud? Thomas Seaman is your guy. Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  16. Like to see an example of SEC and a federal equity receiver, and the receiver’s attorney’s working together and providing false statements about a company founder’s investment into his own company, all in order to make sure his personal and business assets were frozen so he could not have qualified legal representation in a lawsuit? Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  17. Need an example of a federal agency – SEC – going over the top to redeem its image and committing acts of fraud against a company, and its founder, that was creating, or helping retain, thousands of jobs annually? Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  18. Like to see an example of a so-called “Ponzi-like scheme” charged by SEC, where SEC and a receiver have clearly committed fraud, and where scores of the fund’s investors wrote letters to the Court complaining of fraud of SEC and its requested receiver, and did not show concurrence with SEC? Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  19. Like to see an example of SEC causing a violation of the 4th Amendment to the Bill of Rights to the US Constitution by submitting fraudulent financial information to a federal court of law, and thereby causing $45 million of private property of 300 investors? Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  20. Like to see a blatant example of the SEC and a federal equity receiver coordinating their fraudulent statements to a court to cause the denial of legal fees to a defendant? Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  21. Like to see an example of a federal equity receiver, making millions of dollars in fees, accepting a position as a court appointed receiver under false pretense and with fraud of deceit? Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  22. Like to see an example of a Senior SEC trial counsel fraudulently describing his recommendation for a hand picked federal eqity receiver to support SEC’s cause by TWICE in successive lawsuits falsely describing the receiver, Thomas Seaman, as a licensed CPA? And then describing it as a “typo”? Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  23. Would you like to see an example of SEC recommending a federal equity receiver and fraudulently calling him a licensed certified public accountant? And then explaining it as a typo? Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  24. Would you like to see SEC’s pathetic explanations for its fraudulent financial illustrations in a lawsuit? Go to http://www.markfeathers.com.

    Comment by Mark Feathers -

  25. Need more evidence of the fraud of SEC’s senior attorneys and CPA’s? go to http://www.markfeathers.com

    Comment by Mark Feathers -

  26. SEC is exactly as Mark Cuban says. They are bullies. Their environment is to allow employees to engage in fraud, if it means attaining their Agency goals. They have, in fact, turned their efforts to small companies, as noted by Mr. Cuban, and are now past the point of lawful activities. Absolute power corrupts absolutely. I can state ON THE RECORD that SEC employees act in fraud because I, along with three hundred other citizends of this country, are victim of their fraud. I’m fighting their Constitutional violations, even though I’m not a billionaire. More at http://www.markfeathers.com.

    Comment by Mark Feathers -

  27. Loving these blog posts, thanks Marc

    Comment by Michael Librizzi -

  28. WTF
    Q. Okay. So it’s possible then, sir, that — that what you’re tell me is you post ideas and opinions on blogmaverick that are not true?
    So – so – so please tell me this line of questions was not true. What a waste of time and money. To think she got paid tax dollars to do this. I want my tax money back!!!!!

    Comment by Andrew Curl -

  29. Unsurprisingly, sounds like a lot of wasted time in the courtroom… Lots of wasted tax payer dollars and Mark Cuban’s time…

    Comment by Norm Levy (@normlevy) -

  30. Even on the witness stand you can’t escape questions about the LA Lakers. What’s the world coming to :-) Keep your legal updates coming.

    Comment by Mitch Jackson (@mitchjackson) -

  31. F

    Comment by tgreene73 -

  32. She was just there to litigate. I’m just here to commentate. I may or may not be posting what I truly believe.

    Comment by Jerry Stevens -

  33. Mark — Funny and revealing. I’m glad that you can afford (millions of dollars, opportunity cost, and the better part of a decade) to be innocent. Many less fortunate would not be able to fight all the way to a decision. Congratulations.

    Comment by Chris DeMuth Jr -

  34. Another clueless lawyer……

    Comment by djbgumpy -

  35. Did the manner in which she questioned you mean, she thought you were stupid? Her line of questioning to me,was meant to be intimidating, insulting and ignorant…in all actuality, she is committing FRAUD by taking money under false pretenses.

    Comment by Brian R. Johnston -

  36. Did she start off her questioning by saying “ladies and gentlemen of the juh-juh…juh-juh…juh-juh-Jury!”

    Comment by leemanbrothaz -

  37. Mountain made of a mole hill. There was no case. smh

    Comment by @.l.interpretations (@alinterpretatio) -

  38. In the case of Government Lawyer: The mind is a terrible thing.

    Comment by Brian Maday (@brian_tampa) -

  39. What a pain it must have been to be going through that stress and then have some idiot trying to force you to agree to blanket statements obviously designed to get you in trouble. I would think the SEC would have better things to worry about than you. Good luck Mr. Cuban. Hope they lay off your soon! Wow.

    Comment by Scott Cross (@skycross) -

  40. I think it’s freakin’ funny u quoted Galloway…

    Comment by Robin Paddack -

  41. I’m sure @theoldgreywolf has an ‘honest’ abrasive drop to describe this taxpayer funded ‘litigator’

    Comment by Dusty Moer (@dmoer) -

  42. I think I am thinking its okay to think, do you think?

    Comment by Thomas Steplyk (@steplyk) -

  43. So, if the love don’t fit you must acquit (the stock).

    Comment by neonwalrus -

  44. This is great, why did you cut it short? A real insight into gotcha attempts.

    Comment by Howard Stein -

  45. You should have asked her if she was in the group that watched midget tranny porn on their taxpayer funded work computers during work hours????

    Comment by Jim May -

  46. Good answers, Mr. Cuban.

    Comment by calamitycal -

  47. Strange woman full of BS.

    Comment by Gianna (@GiannaMiceli) -

  48. @NowbellPaxDaxPrize=> #Diamonds4X4DCubanD$:|

    Comment by #aimodea$$:|@iE3k! (@amylaceous) -

  49. @NowbellPaxDaxPrize=> #Diamonds4X4DCubanD$:|

    Comment by Lace Dub -

  50. @NowbellPaxDaxPrize=> #Diamonds4XDCubanD$:|

    Comment by Lace Dub -

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