DALLAS (AP) A government lawyer says the drive to win that helps Mark Cuban succeed in business led the billionaire basketball owner to cheat by using insider information to sell stock in an Internet company.
"Mark Cuban violated the law, and he knew better," Securities and Exchange Commission lawyer Jan Folena said Tuesday during opening statements to jurors at Cuban's insider-trading trial.
Cuban's lawyers are expected to give his side of the case later in the day.
It's a civil lawsuit; Cuban is not charged with a crime. The SEC wants Cuban to give up $750,000 he saved from selling his shares, plus pay a penalty that could be two or three times that amount.
To comment, the following rules must be followed:
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.