DALLAS (AP) -- 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 stake 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 only a few hours before reaching the verdict that ended a three-week trial and an SEC lawsuit filed in 2008.