Mark Cuban: Confidentiality Agreement Didn't Exist

Mark Cuban: Confidentiality Agreement Didn't Exist

As we predicted, Mark is fighting this on the grounds that he didn't have a "duty of confidentiality" and so therefore was free to trade on the information. "The SEC will likely rely on Cuban's conversation with the company about the possibility of him investing in their private placement. They'll claim that Cuban was trading on information he had a duty to keep confidential. Once you've got duty in place, the bar against trading kicks in. Basically, be careful what you agree to keep confidential because it may end up inhibiting your investment decisions in the future," we wrote.

Beyond that, we're surprised (but very glad) at how willing Mark Cuban is to use his blog to fight the case.

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