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Government Testimony continues in Cuban insider-trading trial

Testimony continues in Cuban insider-trading trial

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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.

DALLAS (AP) — Jurors hear a second day of testimony in Dallas as they wait for Mark Cuban to take the stand in his insider-trading trial.

Testimony continues Wednesday, a day after attorneys laid out their cases for the federal jury.

A government lawyer pointed to Cuban’s will to succeed in business and sports. Securities and Exchange Commission attorney Jan Folena says that drive led the billionaire owner of the NBA’s Dallas Mavericks to cheat. The SEC says Cuban used insider information to sell stock in an Internet company.

However, one of Cuban’s lawyers says the SEC’s chief witness is lying. Thomas Melsheimer also portrayed the SEC’s case as government overreach.

Cuban is expected to testify at some point, but said he didn’t know when. The trial is expected to last three weeks.

 


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