U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22855 / October 23, 2013
Securities and Exchange Commission v. Mark Cuban, Civil Action No. 08-CV-2050-D (N.D. Tex., filed November 17, 2008)
Jury Finds Mark Cuban Not Liable for Insider Trading
On October 16, 2013, after a three-week trial, a nine-person federal jury found Mark Cuban not liable for insider trading. On November 17, 2008, the Commission filed a Complaint against Cuban alleging that he engaged in insider trading in securities issued by Mamma.com in violation of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.