Cuban's Stock Dump Hurt Average Investors, SEC Tells Jury

Law360, Dallas (October 1, 2013, 3:42 PM EDT) -- The U.S. Securities and Exchange Commission on Tuesday asked a Texas federal jury not to allow billionaire Mark Cuban to get away with dumping stock based on a confidential tip, saying insider trading harms the U.S. markets and hurts average investors, while Cuban argued he sold his stake in an online search company using public information.

The SEC, which is accusing Cuban of avoiding a $750,000 loss by selling his stake in search engine company Mamma.com based on nonpublic information about a planned private investment in...
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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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