Dallas Mavericks billionaire owner Mark Cuban is being accused of insider trading for avoiding $750,000 in losses on a stock sale by using confidential information.

“As we allege in the complaint, Mamma.com entrusted Mr. Cuban with nonpublic information after he promised to keep the information confidential. Less than four hours later, Mr. Cuban betrayed that trust by placing an order to sell all of his shares,” Scott W. Friestad, deputy director of the SEC’s Division of Enforcement, said in a statement. “It is fundamentally unfair for someone to use access to nonpublic information to improperly gain an edge on the market.”

Cuban’s attorney Ralph C. Ferrara posted the following statement on Cuban’s blog, blogmaverick.com.

“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,” Ferrara said. “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.”

There’s not enough information out to know what exactly will happen to Cuban if he’s found guilty but this case is already being compared Martha Stewart’s insider trading in 2001. She was convicted in 2004 and sentenced to prison.