Friday, July 17, 2009

Mark Cuban wins Court Battle, Rd. 1

Months ago, Dallas Mavericks owner Mark Cuban avoided a loss of $750,000 from stocks, but selling about 600,000 shares, or a 6.3% stake in the company. The Securities and Exchange Commission brought charges against Cuban for insider trading. Today, Cuban is free of the litigation, for now.

On Friday, a federal judge granted a dismissal of the civil lawsuit against Cuban for insider trading in SEC v. Cuban, 08-cv-2050, U.S. District Court, Northern District of Texas (Dallas). The company involved was an Internet search engine company known as ", Inc.". Cuban's lawyers argued on his behalf that Cuban wasn't legally an "insider" of the company.

It's still possible the SEC could refile this case, so stay tuned for more madness from the Blogger Maverick, Cuban...

Read more about Cuban's victory in court here at

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