Wednesday, October 16, 2013

Mark Cuban Beats SEC in Insider Trading Case

A federal jury cleared Mark Cuban of wrongdoing on Wednesday, concluding that the billionaire entrepreneur did not commit  the non-crime of insider trading when he dumped his stake in an Internet company, dealing a blow to the Securities and Exchange Commission that  Cuban battled tooth and nail for five years, reports NYT.

After just four hours of deliberation, a nine-person jury concluded that. Cuban was not liable.

Congrats to Mark. The SEC should be shutdown.

1 comment:

  1. Cuban would have been fined up to $2.5 million if he'd been found guilty. The government spent WAY more than that bringing the civil case. I'm sure Cuban spent more than that fighting the case as well. Idiotic on the government's part all the way around.