Mark Cuban Sues SEC Over Insider Trading Documents

SCHUYLER DIXON

DALLAS (AP) — Mark Cuban sued the Securities and Exchange Commission on Thursday for access to documents detailing the insider trading case against the Dallas Mavericks owner.

The Dallas billionaire filed requests for records in December under the Freedom of Information Act. That was a month after the SEC brought a civil action against Cuban, accusing him of selling shares of Internet search engine company Mamma.com after receiving confidential information about a private offering.

Cuban's lawsuit, filed in U.S. District Court in Washington, 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. He didn't comment further. An SEC spokesman declined comment.

The lawsuit said Cuban sought records of investigations involving Copernic Inc., the name for Mamma.com established two years ago, and an array of current and former Cuban enterprises, including the Mavericks, HDNet and Broadcast.com Inc.