Cuban's Stock Dump Hurt Average Investors, SEC Tells Jury

Law360, Dallas (October 1, 2013, 3:42 PM EDT) -- The U.S. Securities and Exchange Commission on Tuesday asked a Texas federal jury not to allow billionaire Mark Cuban to get away with dumping stock based on a confidential tip, saying insider trading harms the U.S. markets and hurts average investors, while Cuban argued he sold his stake in an online search company using public information.

The SEC, which is accusing Cuban of avoiding a $750,000 loss by selling his stake in search engine company based on nonpublic information about a planned private investment in...
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