Differing Approaches To Pre-Sounding Across The Pond

Law360, New York (December 16, 2009, 11:22 AM EST) -- On Aug. 13, 2009, a U.S. District Court judge in Dallas, Texas, dismissed a case brought by the U.S. Securities and Exchange Commission against prominent Internet billionaire Mark Cuban on the basis that the U.S. Securities and Exchange Commission failed to adequately allege that Mr. Cuban agreed to refrain from trading when he was approached about a forthcoming private investment in public equity (PIPE) offering.

On Oct. 7, 2009, the UK Financial Services Authority censured Darren Morton and Christopher Parry for committing market abuse after being...
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