Judge dismisses SEC lawsuit against Mark Cuban

The AP reports: A federal judge on Friday dismissed a civil insider trading lawsuit against Dallas Mavericks owner Mark Cuban. While granting Cuban’s motion, U.S. District Judge Sidney A. Fitzwater gave the Securities and Exchange Commission 30 days to file an amended complaint. The SEC alleged Cuban was involved in insider trading when he sold shares in an Internet search engine company, Mamma.com Inc., after receiving confidential information about a private offering in 2004.

Author: Inside Hoops

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