The Herald Bulletin

Afternoon Update

Nation & World

October 1, 2013

Jury picked for Cuban's insider-trading trial

DALLAS — Seven women and three men were picked Monday to decide the government's lawsuit charging billionaire and Dallas Mavericks owner Mark Cuban with insider trading.

The jury includes one man who said he was "leaning" toward Cuban's side based on what he'd already heard about the case. One woman said she was "impressed" with Cuban as a man who stands up for his beliefs, and another called him "a nice guy."

The makeup of the jury could represent another hurdle for Securities and Exchange Commission lawyers who will try the case before U.S. District Judge Sidney Fitzwater.

"It's a very tough case for the SEC. The trial judge dismissed it once," said Russell Duncan, a former federal prosecutor who tried financial-fraud cases. After Fitzwater dismissed the SEC lawsuit in 2009, an appeals court overturned his decision and sent the case back.

The SEC charged in a civil lawsuit that Cuban violated insider-trading rules in 2004 by selling his shares in a Canadian Internet company after learning confidentially about news that would send the shares down. The government said that he avoided $750,000 in losses by dumping his stock. Cuban's lawyers dispute the SEC's version and say he did nothing wrong.

It took all day Monday to whittle a pool of 64 prospective jurors down to a 10-member panel. Much of the questioning by lawyers for both sides dealt with what jurors knew about confidentiality agreements and whether they had seen Cuban on ABC's "Shark Tank."

One woman picked for the jury remembered seeing Cuban several years ago on "Dancing With the Stars." When one of Cuban's lawyers asked why he was voted off the show, the woman answered, "He was not a good dancer."

Cuban, at the defense table in a navy suit, blue tie, white shirt and French cuffs, laughed and nodded in agreement with the woman's recollection.

 

1
Text Only
Nation & World
  • news_ukraineprotests.jpg Deal reached on calming Ukraine tensions

    Top diplomats from the United States, European Union, Russia and Ukraine reached agreement after marathon talks Thursday on immediate steps to ease the crisis in Ukraine.

    April 17, 2014 1 Photo

  • news_target.jpg Cyber cops: Target hackers may take years to find

    Secret Service investigators say they are close to gaining a full understanding of the methods hackers used to breach Target's computer systems last December.

    April 17, 2014 1 Photo

  • Evacuation came too late for many on sinking ferry

     An immediate evacuation order was not issued for the ferry that sank off South Korea's southern coast, likely with scores of people trapped inside, because officers on the bridge were trying to stabilize the vessel after it started to list amid confusion and chaos, a crew member said Thursday.

    April 17, 2014

  • 3 protesters killed in attack on Ukrainian base

    The turmoil in Ukraine dominated the European landscape Thursday, as three protesters were killed in a clash in southern Ukraine, high-level talks were held in Geneva and Vladimir Putin weighed in on his neighbor's future for hours from Moscow.

    April 17, 2014

  • news_marathonsecurity.jpg Boston Marathon organizers confident of safe race

    The arrest of a man with a rice cooker in his backpack near the Boston Marathon finish line led police to step up patrols Wednesday, while organizers sought to assure the city and runners of a safe race next week.

    April 17, 2014 1 Photo

  • news_diabetescomplications.jpg Study: Diabetic heart attacks and strokes falling

    In the midst of the diabetes epidemic, a glimmer of good news: Heart attacks, strokes and other complications from the disease are plummeting.

    April 17, 2014 1 Photo

  • news_skoreaferry.jpg Fears rise for missing in South Korea ferry sinking

    Fears rose Thursday for the fate of 289 passengers still missing more than 24 hours after their ferry flipped onto its side and filled with water off the southern coast of South Korea.

    April 16, 2014 1 Photo

  • news_ukraineprotests.jpg Pro-Russian gunmen make inroads in eastern Ukraine

    The well-armed, Moscow-backed insurgency sowing chaos in eastern Ukraine scored a new victory Wednesday, seizing armored vehicles and weapons from underequipped government forces, then rolling through two cities to a hero’s welcome.

    April 16, 2014 1 Photo

  • news_detroitsunset.jpg Detroit still needs $350M from state lawmakers

    Pressure was building Wednesday for Michigan lawmakers to commit $350 million to Detroit pensions, a day after the city reached tentative agreements with pension funds and a retiree group to reduce payouts.

    April 16, 2014 1 Photo

  • news_malaysiaplanesearch.jpg Sub makes second dive to search for Malaysian plane

    As a robotic submarine dived into the ocean to look for lost Flight 370, angry Chinese relatives stormed out of a teleconference meeting Wednesday to protest the Malaysian government for not addressing them in person.

    April 16, 2014 1 Photo

More Resources from The Herald Bulletin
AP Video
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Helium debate
Helium