My friend SMU Law Professor Marc Steinberg has published a great article on the SEC's misbegotten prosecution of Mark Cuban:
The Securities and Exchange Commission's (SEC) enforcement action against Mark Cuban for allegedly engaging in illegal insider trading was far from standard fare. Unlike the vast majority of SEC enforcement actions that are settled pursuant to the consent negotiation process, whereby the defendant neither admits nor denies the Commission's allegations of misconduct, Mr. Cuban declined overtures of settlement and proceeded to trial. After years of contentious litigation, where he incurred legal fees of $12 million, Mr. Cuban emerged victorious with a favorable jury verdict. The Commission's case against Mr. Cuban raises questions regarding the scope of our insider trading laws, the strategic decisions made, the high costs of defending one's good name, and the appropriate limits of governmental prosecutorial discretion.
The author was retained as an expert witness on Mr. Cuban's behalf in the litigation. The article is based on the author's 2019 William Marshall Bullitt Memorial Lecture in Law at the University of Louisville, Brandeis School of Law.
For even more details on this notorious lawsuit, see Marc's book:
For my coverage of the Cuban case, see these posts:
