Mark Cuban’s attorneys shot back at the SEC today, calling the agencies appeal “desperate.”
Dewey & LeBoeuf, which is representing Mark Cuban in the case, said that the SEC lost on both the law and the facts.
“The Chief Judge of the District Court in which the SEC chose to file its case against Mr. Cuban dismissed the complaint based on the SEC’s own version of the facts and, in the process, invalidated one of the SEC’s insider trading rules,” a lawyer from the firm said in a statement. “So not only did the SEC lose on the law, but, as Mr. Cuban’s recent sanctions motion demonstrates, the SEC could never have won on the actual facts.”
The SEC filed an appeal of a judge’s ruling dismissing an insider case against Cuban.
“This appeal is nothing more than the SEC’s desperate attempt to shock a heartbeat into a case that was dead on arrival,” the laywer said.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.