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Fed Judge Dismisses SEC Insider Trading Suit Against NBA Team Owner Mark Cuban

Well, Mark Cuban caught a big break. Now let’s see if he can concentrate more to make his disappointing NBA team better by making an above-board trade.

Mark Cuban/60 mins.
Mark Cuban/60 mins.

By ERIC TORBENSON and BRENDAN CASE
The Dallas Morning News
DALLAS — A federal judge has tossed out the Securities and Exchange Commission’s insider-trading suit against Dallas Mavericks owner Mark Cuban, dealing a stunning defeat to the nation’s securities cop in one of its highest-profile civil actions.

Chief Judge Sidney Fitzwater of Dallas said in a 35-page ruling released Friday that the SEC had failed to prove that Cuban entered into a legal agreement not to trade stock in the search engine firm Mamma.com Inc. after learning nonpublic information about the company’s plans to raise more money.

For Full Story

Read Ruling

The Story When Cuban Was Charged Last Year


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