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Mark Cuban sues SEC over insider trading documents

By Mark H. Astarita, Esq.

You gotta love a billionaire who believes he has been wrongly accused and is willing to fight to clear his name. Mark Cuban, named in an insider trading case by the SEC, is striking back.A fair reading of the case against him reveals that it is not much of a case. The SEC is seeking to expand the rules against insider trading yet again. Those rules have been stretched so far as to make the rule unrecognizable to the original drafters - the SEC and the courts have actually interpreted the statutes as if a key phrase is missing.I have blogged about the case in the past, (Mark Cuban and the SEC Improper Trading Investigation, Cuban's Duty of Trust?, and The Cuban Case and Confidentiality), so my views on the case are pretty clear.Last week, Mark Cuban's attorneys argued a motion to dismiss the SEC complaint in federal court...continue to full post

Full post as published by SECLaw.com on June 01, 2009 (boomark / email).