CUBAN WRAPS UP: Billionaire Dallas Mavericks owner Mark Cuban finished two days on the witness stand defending himself against a government lawsuit accusing him of insider trading.
JUDGE'S RULING: Cuban was the last witness called by the Securities and Exchange Commission, which says Cuban used confidential insider information to sell shares in a company called Mamma.com before news that sent the shares lower. Cuban's lawyers asked U.S. District Court Judge Sidney Fitzwater to dismiss the case, saying that the SEC failed to prove insider trading, but the judge declined to do so.
DEFENSE TAKES OVER: Cuban's team then began presenting its defense by calling his longtime stockbroker. The case is expected to run at least into next week.
- Company Legal & Law Matters
- Mark Cuban
- insider trading