Mark Cuban’s Insider Trading Case is Dismissed

The upshot:

Chief Judge Sidney Fitzwater said in a 35-page ruling released Friday that the SEC had failed to prove that Cuban, who owns the Dallas Mavericks, “undertook a duty of non-use of information required to establish liability under the misappropriation theory of insider trading.”

The SEC has 30 days to refile the complaint. But, at this point, it looks like Cuban has won. Good on ya, sir.

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