Cuban Says SEC Can't Prove His Trading Ran Afoul Of Law

Law360, Dallas (January 18, 2013, 8:25 PM EST) -- Attorneys for Dallas Mavericks owner Mark Cuban told a Texas federal judge on Friday that the U.S. Securities and Exchange Commission hadn’t proven he broke insider trading laws when he sold stock after learning about a company’s equity offering, saying its claims should be dismissed.

At a hearing on his motion for summary judgment, Cuban argued the SEC bore the burden of showing he had failed to disclose his plans to sell off 600,000 shares of Mamma.com Inc. after he learned confidential information about the search...
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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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