News Summary: SEC v. Mark Cuban

News Summary: Mark Cuban says did nothing wrong when he sold Internet company stock in 2004

Associated Press

CUBAN TESTIFIES: Billionaire sports owner Mark Cuban testified at his insider-trading trial that he did nothing wrong when he sold his 6 percent stake in Internet company Mamma.com in 2004.

SEC'S CLAIM: The Securities and Exchange Commission is suing Cuban, claiming that he sold his stock when he learned about an upcoming issue of stock that would lower the value of his shares. It's a civil lawsuit — there are no criminal charges.

HE SAID, HE SAID: The case may come down to whether jurors believe the company's CEO, who said Cuban agreed to confidentiality before learning of the stock plan, or Cuban, who denies making such an agreement.

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