SEC Dimissed Lawsuit Against Mark Cuban

Mark Cuban on stageChief Judge Sidney Fitzwater said in a 35-page ruling released Friday that the SEC had failed to prove that Cuban, who owns the Dallas Mavericks, “undertook a duty of non-use of information required to establish liability under the misappropriation theory of insider trading.”

As the SEC has 30 days to amend the complaint, further comment by me would be inappropriate until the deadline has passed.  Here is the ruling.(PDF).


5 Responses

Leave a Reply

Your email address will not be published. Required fields are marked *