The Securities and Exchange Commission today charged seven individuals and two companies involved in an insider trading ring, alleging that Matthew Devlin, a former registered representative at Lehman Brothers, Inc. in New York City, traded on and tipped his clients and friends with confidential, nonpublic information about 13 impending corporate transactions.

Billionaire Dallas Mavericks pro basketball team owner Mark Cuban has been charged with insider trading according to information filed by the SEC. Cuban was charged with insider trading in shares of Mamma.com an internet search company in June 2004.

Trader Misused Confidential Information Gleaned From Spouse, Who Was Lead Executive Assistant to Oracle's CEO and Co-Presidents