Billionaire Mark Cuban beats insider-trading allegations

A district court said the SEC could not adequately prove key facets of its case

Basketball season may not have started yet, but already the Dallas Mavericks have picked up one victory: in the courtroom. Billionaire Mavericks owner and investor Mark Cuban has been found not guilty of accusations that he previously engaged in insider trading when selling his shares of an Internet company in 2004.

A Texas federal district court ruled that the Securities and Exchange Commission (SEC) could not adequately prove crucial parts of its case, including the allegation that Cuban had agreed to keep certain information given to him confidential.

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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