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Mark Cuban insider trading case nears final buzzer

🕐 1 min read

DALLAS (AP) — The government’s insider-trading case against billionaire and Dallas Mavericks owner Mark Cuban is heading toward the final buzzer.

After six days of testimony, closing arguments are expected Tuesday afternoon in federal court in Dallas.

The Securities and Exchange Commission accuses Cuban of avoiding $750,000 in losses by selling his shares in an Internet search engine company after the CEO told him privately about a planned stock offering that would cut the value of Cuban’s shares. Cuban says there never was a confidentiality agreement, and he denies any wrongdoing.

The verdict could come down to whether jurors believe Cuban or the company’s CEO. The CEO declined to come to Dallas but the testimony was recorded on video and shown to the jury.

 

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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