Securities Law Alert: SEC v. Cuban: What the Decision Means For Insider Trading Liability and Confidentiality Agreements

more+
less-

On July 17, 2009, a federal judge in the United States District Court for the Northern District of Texas dismissed the Securities and Exchange Commission’s (SEC) insider–trading case against Dallas Mavericks owner Mark Cuban for failure to state a claim on which relief could be granted. The SEC’s claim was based on the misappropriation theory of insider trading, which provides that a person commits fraud in connection with a securities transaction, and thereby violates Section 10(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b–5 issued thereunder, when he misappropriates confidential information for securities trading purposes in breach of a duty owed to the source of the information.1

Please see full alert for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Mintz Levin | Attorney Advertising

Written by:

more+
less-

Mintz Levin on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×