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.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.