Earlier this month Mark Cuban not scored a rare victory against the SEC, having a judge dismiss the insider trading case against him. Now he’s going for the extra-points by attempting to force the SEC to pay for the costs of his lawyers.
Lawyers at Dewey & LeBoeuf, Cuban’s law firm, filed a motion on Friday asking the judge to order the SEC to pay their attorneys’ fees and costs.
Andrew Lonstreth at Law.com reports:
In their motion for fees, the Dewey team– Ralph Ferrara, Stephen Best, Lyle Roberts, Henry Asbill, and Christopher Clark–write that they’re not seeking the money simply because Judge Fitzwater dismissed the suit. Instead, they write: “Mr. Cuban and the court never should have been forced to address this suit. The SEC’s insider trading claim against Mr. Cuban is wholly unsupported by the facts.”
Cuban’s lawyers argue that the SEC improperly pressured witnesses. The entire case, they say, was built on the hope that Cuban himself could be pressured into settling.
“The SEC apparently gambled that Mr. Cuban would be pressured into an early settlement,” the Dewey team writes.