Jury Hands Cuban The Win In SEC's Insider Trading Case

Law360, Dallas (October 16, 2013, 4:45 PM ET) -- A Texas federal jury on Wednesday said billionaire investor Mark Cuban did not commit insider trading, finding against the U.S. Securities and Exchange Commission on all essential elements of the SEC's claim.

After about four hours of deliberations, the nine-member jury unanimously found Cuban didn't agree to keep information about Canadian search engine company Mamma.com confidential nor agree to abstain from trading on information he learned about an upcoming private investment in the publicly traded company. The jury also said information about the investment was not...
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Case Information

Case Title

Securities and Exchange Commission v. Cuban


Case Number

3:08-cv-02050

Court

Texas Northern

Nature of Suit

Securities/Commodities

Judge

Sidney A Fitzwater

Date Filed

November 16, 2008

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