SEC Clean In Mark Cuban Probe, Watchdog Says

Law360, New York (September 30, 2011, 6:27 PM EDT) -- The U.S. Securities and Exchange Commission's inspector general said in a report released Friday that agency staff did not act inappropriately in their investigations related to a Texas suit accusing sports and entertainment billionaire Mark Cuban of insider trading.

The SEC claims that Cuban, who owns the NBA's Dallas Mavericks and Landmark Theatres, avoided a $750,000 loss by selling shares in search engine company Mamma.com by selling off 600,000 shares in the company based on nonpublic information he learned from its then-CEO about an impending private...
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