Cuban 'Quid Pro Quo' Defense Not Fit For Trial, SEC Says

Law360, New York (September 17, 2013, 12:25 PM EDT) -- Dallas Mavericks owner Mark Cuban should not be allowed to claim during his upcoming insider trading civil trial that the U.S. Securities and Exchange Commission secured the testimony of a key witness through an improper quid pro quo agreement, the agency told a Texas federal judge Monday.

The SEC said that Cuban, who is set to go on trial Sept. 30 on claims he sold stock in search engine company based on inside information from then-CEO Guy Faure, should be barred from arguing that Faure...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.