Confidentiality Requests In Light Of SEC V. Cuban

Law360, New York (July 21, 2009, 1:19 PM EDT) -- A recent decision dismissing the highly touted securities enforcement action that the U.S. Securities and Exchange Commission filed against Dallas Mavericks owner Mark Cuban could significantly impact what many company executives say when orally sharing with third parties material, nonpublic information about the company.

Until now, a company executive sharing confidential, nonpublic information with a third party (e.g., a potential investor) might simply obtain from the recipient of the information a promise to keep the information confidential.

In light of the decision dismissing the SEC’s complaint...
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