Legal News

Dallas Mavericks Owner Mark Cuban Faces Trial for Inside Trading
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

While the Dallas Mavericks have their opening game in a basketball court a month from now, their owner Mark Cuban will be going on trial for an insider-trading case in a federal court this Monday. The extroverted and somewhat overbearing billionaire will have to weigh his personality in the venture, because commentators say the iffy case may depend on whether he can feign a little humility before the jury.

The case revolves around his choice to dump 600,000 shares in stocks after a phone call with the CEO of Mamma.com, who told him that the Internet-search company he invested in was going to offer a new stock. As he was about to lose $750,000, he said in the phone call “well now I’m screwed. I can’t sell.” But then he went on and sold his stock, unloading the shares just before the company publicly made its stock offering.

  
What
Where


Though the case was originally dismissed in 2009 by U.S. District Judge Sidney Fitzwater, that was overturned in an appeal, and brought back to trial.

According to the Huffington Post, James Meyers, a former enforcement attorney for the SEC, said the case is iffy, and that “a lot of it will come down to how Cuban comes across.” He said were he Cuban’s lawyer “I would tell him to come across as humble and affable and not as master of the universe.” But whether a man with an arrogant demeanor can simply “come across as humble” is another matter. This is after all the man who drew $1.5 million in league fines for berating referees.

If Cuban loses, he is expected to pay the $750,000 and also pay a civil penalty. If the SEC loses, it might watch its step making further insider-trading lawsuits, which, after all, are never a sure thing.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




(image source, midwestsportsfans.com)





 

RELEVANT JOBS

Sr. Trial Attorney

USA-NE-Omaha

If you\'re passionate about being part of a diverse organization that enables a Fortune 100 company ...

Apply now

Senior Housing Paralegal

USA-CA-Bakersfield

GBLA is currently accepting applications for experienced Senior Paralegals to work in our Housing un...

Apply now

Domestic Violence Attorney

USA-CA-Bakersfield

GBLA is currently accepting applications for a full-time attorney with 3+ years of knowledge and exp...

Apply now

Housing Attorney

USA-CA-Bakersfield

GBLA is currently accepting applications for full-time attorney’s with 3+ years of experience ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-level Corporate Associate Attorney

USA-CA-Napa

Napa office of a BCG Attorney Search Top Ranked Law Firm seeks a mid-level corporate associate attor...

Apply Now

Liability Defense Attorney

USA-FL-Fort Lauderdale

Ft. Lauderdale office of our client seeks liability defense attorney with 3+ years of insurance defe...

Apply Now

Litigation Associate Attorney

USA-CA-San Francisco

San Francisco office of a BCG Attorney Search Top Ranked Law Firm seeks litigation associate attorne...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top