Cuban Disputes SEC's Claim He Traded On Confidential Tip

Law360, Dallas (October 2, 2013, 8:01 PM EDT) -- Billionaire Mark Cuban's defense team on Wednesday hammered away at the U.S. Securities and Exchange Commission's claim that he broke insider trading rules when he sold his stake in an online search company, arguing he never agreed not to act on information about a financing deal.

In questioning two key government witnesses, Cuban's defense drove home to a Texas federal jury that though Canadian search engine company Mamma.com may have intended to keep confidential plans for a June 2004 private investment in public equity, or PIPE,...
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