Cuban's Broker May Be Covering Up Insider Trade, SEC Says

Law360, Dallas (October 8, 2013, 6:54 PM EDT) -- The U.S. Securities and Exchange Commission on Tuesday suggested billionaire entrepreneur Mark Cuban's longtime personal investment broker could be lying to a Texas federal jury about an alleged insider trade to protect his job.

Cuban, the owner of the Dallas Mavericks, is accused of avoiding a $750,000 loss by dumping 600,000 shares in Canadian search engine company after the then-CEO of the company told him confidential information about an upcoming private investment in public equity deal. Questioning the broker who ordered that trade, Charlie McKinney,...
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