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Cuban's Duty of Trust?

By Mark H. Astarita, Esq.

A bit more information on the Mark Cuban insider trading case. As I discussed here and here, one important part of the SEC's case is that Mr. Cuban breached a duty to keep the information confidential; a duty of trust. In their complaint they attempt to create that duty by alleging that mamma.com's CEO prefaced their conversation by saying that he had confidential information to give Mr. Cuban, and Mr. Cuban agreed to keep it confidential.It's an oddly worded allegation, as discuss here, but that is the allegation, and without it, the SEC's case is dismissed. And, according to Stephen Best, on of Mr. Cuban's attorneys, it's not true.Mr. Best has a post at Mr. Cuban's blog, posting a piece of the transcript of "an interview" with the CEO:1) Q- We spoke earlier about you were telling Mr...continue to full post

Full post as published by SECLaw.com on November 20, 2008 (boomark / email).