Cuban's battle with SEC heating up

DALLAS (AP) - The insider trading suit filed against Dallas Mavericks' owner Mark Cuban is scheduled to receive its first hearing Tuesday when attorneys present oral arguments on a motion by the billionaire owner to have the case dismissed.

The suit was filed last year by the U.S. Securities and Exchange Commission.

The hearing will provide yet another window to a case that has captured the attention of the country's legal minds, some of whom believe it represents an unprecedented step by the SEC.

The SEC says Cuban allegedly using confidential information on a stock sale involving Canadian Internet search engine company, Mamma.com Inc.

Cuban disputed the Securities and Exchange Commission's allegations.

His legal team says Cuban was never an "insider" because he didn't have a fiduciary or similar duty in his relationship with the company.


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