Mark Cuban 1, SEC 0
We previously covered the Securities and Exchange Commission’s lawsuit against Mark Cuban. Today brings some good news on that front for the billionaire businessman. From Mark Cuban’s brother, lawyer / blogger Brian Cuban:
Chief 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.
The complete ruling is here (PDF). Professor Stephen Bainbridge offers more detailed analysis.
SEC Dimissed Lawsuit Against Mark Cuban [The Cuban Revolution]
Mark Cuban Wins a Big Round Against SEC Insider Trading Rap [Professor Bainbridge]
SEC’s Insider Trading Suit Against Mark Cuban Is Dismissed [WSJ Law Blog]
SEC v. Cuban [PDF]
Earlier: Mark Cuban: Meet the SEC
(13) Comments
Posted in: Mark Cuban, Securities and Exchange Commission
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Lat if you are reading this, make some indication as to whether you are bottom or top. I think u r such a qt but I only like bottoms.
Lat - Does Cuban's tongue wagging at you turn you on?
the fluffer
Good. The SEC has been on a fucking witchhunt since they dropped the ball on the Madoff scheme. I know two small PE firms that were forced to shut down because clients left when they found out the firms were "under investigation" by the SEC. The SEC found nothing, moved on, and those firms collapsed.
Suck it SEC
MC
1 here. Moderating my post but not Partner Emeritus' syphilitic ramblings is racist.
4 is a dufus. PE scrubs toilets for a living. No way he has his own firms.
They should have won.
SEC SECURE
Mark Cuban is totally sleepwithable.
Wow, Dewey's on a roll recently.
SEC>Big 12
Hell yeah. I'm rooting for Cuban.
Congratulations to Dewey!!!
http://www.law.com/jsp/tal/digestTAL.jsp?id=1202432359938