DALLAS — A government lawyer told jurors that billionaire Dallas Mavericks owner Mark Cuban had an unfair and illegal advantage over other investors when he dumped $7.9 million in shares of an Internet company and then lied about why he sold.
One of Cuban’s lawyers answered that the government’s case depended on an unreliable witness who refused to testify in person. He accused the Securities and Exchange Commission of twisting evidence and “trying to win at all costs” to prevail in a lawsuit against a high-profile defendant.
Jurors in federal court in Dallas planned to begin deliberations Wednesday morning. The SEC claims that Cuban broke a confidentiality deal in 2004 when he sold his shares in Mamma.com Inc., a Canadian search engine that was trying to compete with larger rivals such as Google Inc. The company’s CEO had just told Cuban about a pending stock deal.