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Mark Cuban's Insider Trading Charge Revived

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According to AP:

A federal appeals court revived the Securities and Exchange Commission's insider-trading lawsuit against Dallas Mavericks owner Mark Cuban on Tuesday, saying it was "plausible" he knew he was not supposed to sell stock in a company to avoid a loss after receiving confidential information.

Cuban is typically offended by the perceived abuse by the SEC.

Cuban released a statement from one of his attorneys, Stephen Best, saying the Mavericks owner was disappointed in the ruling.

The SEC "brought this case as a result of a pre-existing bias against Mr. Cuban ... and prosecuted the case against Mr. Cuban in bad faith," Best said.

Cuban has filed motions asking the SEC to pay his legal fees and accusing the agency of misconduct.

Photographs by jamesbrandon, jdtornow, phlezk, flygraphix, mcdlttx, tomasland, and literalbarrage used in background montage under Creative Commons. Thank you.