Mark Cuban Found Not Guilty of Insider Trading 48
schwit1 writes "Mark Cuban won a years-long fight with the federal government Wednesday as jurors decided that the billionaire basketball team owner did not commit insider-trading when he sold his shares in an Internet company in 2004. The jury in federal district court in Dallas said that the Securities and Exchange Commission failed to prove the key elements of its case, including the claim that Cuban agreed to keep certain information confidential and not trade on it. The nine-member jury deliberated about half a day before reaching the unanimous decision that ended the three-week trial."
This was a civil case (Score:2, Interesting)
This was a civil case, meaning that he was simply being asked to repay some money, not face jail time.
It also means he was up against the SEC in a spot where they only had to have "Preponderance of Evidence" instead of "Beyond Reason Doubt."
There must have been very little here.