DALLAS (AP) — Billionaire and Dallas Mavericks owner Mark Cuban is expected back on the witness stand today as his insider-trading trial resumes in federal court.
Cuban testified Friday that he never promised a Canadian Internet company to keep information about a stock issue confidential.
The Securities and Exchange Commission says Cuban used his status as the biggest shareholder in Mamma.com to learn about a stock sale that would hurt the value of his shares. The SEC says Cuban avoided a $750,000 loss by selling his shares before the company publicly announced the stock sale.
The SEC is suing Cuban in a civil case; he isn't charged with a crime.