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SEC to appeal Cuban insider trading ruling


October 07, 2009 U.S. securities regulators said on Wednesday it will appeal a court decision dismissing its insider trading case against Dallas Mavericks basketball team owner Mark Cuban. The U.S. Securities and Exchange Commission said it will appeal the dismissal at the U.S. Court of Appeals for the Fifth Circuit. [...] Cuban's lawyers said the SEC's case had already been dismissed by the judge based on the SEC's version of the facts and in the process invalidated one of the SEC's insider trading rules.

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