Friday, July 17, 2009
A Federal District Court in Dallas has dismissed the SEC's insider trading case against Mark Cuban; the agency has 30 days to replead its case. According to the SEC, Cuban sold shares of Mamma.com while in possession of inside information. The defense argued that Cuban was not a corporate insider and owed no duty not to trade on the information. WSJ, Judge Dismisses SEC Insider-Trading Case Against Mark Cuban.