The SEC was handed a high-profile loss in a low-stakes case with Mark Cubans trial lawyers outmaneuvering those for the regulator.
A federal jury in Dallas yesterday rejected SEC claims that Cuban engaged in insider trading when he sold his stake in a Canadian Internet company nine years ago to avoid a $750,000 loss. Jurors found the information Cuban acted on wasnt confidential and that he hadnt promised not to trade on it.
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