Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Tuesday, March 5, 2013

SEC's Insider Trading Case Against Cuban Set for Trial

A Texas federal district court judge denied Mark Cuban's motion to dismiss the SEC's charges of insider trading against him, saying that the SEC could present its case to a jury.  The allegations stem from Cuban's sale, in 2004, of his stake in Mamma.com.  The SEC alleges that he sold his shares after learning the company would issue new shares in a PIPES offering, in violation of a duty he owed to the corporation to refrain from trading on the information.  Cuban has mounted a vigorous defense.  A trial is set for June.

WSJ, SEC Case Against Mavericks Owner Cuban to Proceed .

http://lawprofessors.typepad.com/securities/2013/03/secs-insider-trading-case-against-cuban-set-for-trial.html

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