Case Against Mark Cuban Revived
DALLAS (AP) - A federal judge has denied Dallas Mavericks owner
Mark Cuban's motion to have the Securities and Exchange Commission
pay his attorney fees and expenses. Judge Sidney A. Fitzwater's ruling Tuesday came hours after a federal appeals court revived the SEC's insider-trading lawsuit against Cuban. The lawsuit accuses the Dallas billionaire of selling shares in an Internet search engine company to avoid a $750,000 loss after learning about a private stock offering.
Fitzwater had dismissed the insider-trading lawsuit last year.
But the appeals court decision Tuesday sent the case back to
Fitzwater for further discovery and, if necessary, a trial. Fitzwater denied Cuban's motion without prejudice, meaning he
can refile it later.