Mark Cuban Insider Trading Allegations
Dallas lawyer Trey Branham tells CBS 11 (KTVT) reporter Jack Fink that the 5th U.S. Circuit Court of Appeals’ decision in an insider trading case against Dallas Mavericks owner Mark Cuban doesn’t mean the appeals court “is saying Cuban has done anything wrong. I don’t think the 5th Circuit is making any sort of judgment on the actions here.
” Branham was consulted as by CBS 11 as a legal analyst and is not involved in the lawsuit. The decision, however, reinstates the U.S. Securities and Exchange Commission’s civil lawsuit against Cuban, who is accused of using confidential insider information when he decided to sell his shares in the search engine Mamma.com in 2004.
His sale saved him about $750,000 in losses. A Dallas federal judge had originally dismissed the case, but the appeals court’s decision means Cuban is headed back to court. Dallas-based Branham Law represents corporate clients in a variety of commercial litigation matters, as well as helping individuals in catastrophic personal injury claims.
Led by noted courtroom lawyer Trey Branham, the firm provides extensive legal expertise and exceptional value for every client.