Cuban sues SEC over insider trading documents 2009-05-29
DALLAS (AP) - Mark Cuban is suing the Securities and Exchange Commission for access to documents detailing the insider trading case against the Dallas Mavericks owner.
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The Dallas billionaire filed requests for records in December under the Freedom of Information Act. That was a month after the SEC sued Cuban, accusing him of selling shares of Internet search engine company Mamma.com after receiving confidential information about a private offering.
Cuban's lawsuit claims the SEC improperly rejected some requests, didn't respond quickly enough to appeals of rejections and failed to conduct adequate searches for some records.
Cuban provided a copy of his lawsuit to The Associated Press after it was reported by The Dallas Morning News. An SEC spokesman declined comment.
Author: Fox Sports Author's Website: http://www.foxsports.com Added: May 29, 2009
