Corporate Governance

SEC v. Cuban: Attorney?s Fees Battle Ends (For Now)

By Andrew Woods

Incident to the Fifth Circuit's reinstatement of the Securities and Exchange Commission's ('SEC') insider trading case against Mark Cuban ('Cuban'), the District Court for the Northern District of Texas, Dallas Division, denied Cuban's motion for attorney's fees and expenses ('the Motion').   The court dismissed the Motion without prejudice and cited elimination of 'the need to resolve difficult discovery issues' that could have arisen if parallel suits continued as the primary reason for denial. 

Additionally, the court denied without prejudice both Cuban's and the SEC's motions to compel responses to interrogatories and production of documents, and Cuban's motion for a protective order.  The court noted, however, either party may adopt its previously written brief if necessary to revive a previously denied motion. 

The primary materials for this post are available on the DU Corporate Governance Website.  

Full post as published by The Race to the Bottom on October 05, 2010 (boomark / email).