Dallas Mavericks owner Mark Cuban cleared of insider trading


Dallas Mavericks owner Mark Cuban is finally able to put a nine-year battle against an insider trading charge behind him. Cuban was found not guilty on Wednesday.

The three-week trial was based around the SEC accusing Cuban of illegally selling shares in 2004 of the Canadian company Mamma.com.

Federal attorneys argued Cuban dropped the stocks based on inside information he received from the company’s CEO, and avoided $750,000 in losses on a $7.9 million sale.

Following the verdict, Cuban let loose on the SEC, saying that he understood being “squeaky clean” makes him a target. And that he was glad that he had the funds to fight the battle and stand up to what he believes are unfair and unclear practices.