Cuban off hook for insider trading

mark cuban insider trading dallas mavericks nba

DALLAS (AP) - Jurors say billionaire Mark Cuban did not commit insider-trading when he sold his shares in an Internet company in 2004 after learning of a development that would dilute the value of his investment.

View 2014 NBA Finals Futures Odds

The jury in federal court found that the SEC failed to prove several key elements of its case, including that Cuban traded on nonpublic information.

The nine-member jury deliberated for about four hours.

The Securities and Exchange Commission accused Cuban of using inside information to sell $7.9 million of stock in Mamma.com after he learned confidentially of a stock offering that would send the share price down.

Cuban testified that he never agreed to keep information about the stock deal private and told the company that he would sell his shares.

Bet 2014 NBA Finals Futures Odds

Want More From TheSpread.com? Follow us on Twitter and Facebook or Subscribe to Our News Feeds!

NBA Top Stories

Thumbnail Spurs vs. Grizzlies Game 6 Pick Will the San Antonio Spurs go on the road and finish off the Memphis Grizzlies when the two meet in Game 6...
Thumbnail Raptors vs. Bucks Game 6 Pick Can the Toronto Raptors close out the Milwaukee Bucks when the two meet in Game 6 of their NBA Playoffs series today at 7PM...
Thumbnail Bulls vs. Celtics Game 5 Pick Will the Boston Celtics stay hot when their NBA Playoff series with the Chicago Bulls returns home tonight for Game 5 at 8:30PM...
Thumbnail Hawks vs. Wizards Game 5 Pick Who has the edge when the Washington Wizards host the Atlanta Hawks meet up tonight at 6PM ET in Game 5 of...
Thumbnail Jazz vs. Clippers Game 5 Pick Will the Los Angeles Clippers be able to regroup at home when they host the Utah Jazz in Game 5 of their...

NBA Headlines

NBA Team Pages