It's Cuban's turn at insider-trading trial

October 3, 2013 9:26:29 AM

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DALLAS -- The headliner on the bill is to take the stage as Mark Cuban is scheduled to testify in the trial of the federal insider-trading case against him. 

 

The jury verdict in the trial of the Securities and Exchange Commission lawsuit could come down to whether jurors believe the billionaire Dallas Mavericks owner's account of a 2004 phone call. 

 

Cuban is likely to say Thursday that he never promised to refrain from selling his shares in an Internet company after learning news that would cause their value to fall. 

 

The CEO of the Canadian search-engine company says Cuban agreed that he would be learning confidential information from him. The SEC says that's key to its contention Cuban knew he couldn't trade on inside information when he unloaded 600,000 shares.