Prof. Marc Steinberg's new book, SEC v. Cuban
RESPECTED LEGAL SCHOLAR MARC I. STEINBERG REVEALS INSIGHTS INTO INSIDER TRADING CASE IN NEW BOOK, ‘SECURITIES AND EXCHANGE COMMISSION v. CUBAN’
DALLAS (SMU) – Marc I. Steinberg, Rupert and Lillian Radford Professor of Law at SMU Dedman School of Law – as well as a former Securities & Exchange Commission (SEC) enforcement attorney and expert witness for high-profile cases – released his new experiential book that focuses on the SEC’s enforcement action charging Mr. Mark Cuban with illegal insider trading.
“The book focuses on this intriguing litigation, drawing the reader’s attention as the ‘story’ unfolds,” said Professor Steinberg. “As an expert witness, I had the opportunity to experience this litigation from the playing field rather than as a spectator. These insights enhance the book’s substance and vitality.”
Securities and Exchange Commission v. Cuban presents key documents, details of Mamma.com stock trades, and the factors that led to the jury exonerating Mr. Cuban. This litigation, which lingered for five years, resulted in significant costs for both Mr. Cuban and the government. Mr. Cuban reportedly spent $12 million in legal fees in defeating the government’s charge that he was a fraudster. After years of vigorous pursuit with less than a formidable case, the SEC suffered a significant defeat. In the end, when Mr. Cuban emerged victorious and the government packed its bags, questions were raised as to strategic decisions made, the high costs of defending one’s good name, the limits of government prosecutorial discretion, and the breadth of our U.S. insider trading laws.
“Professor Steinberg is not only an expert in securities and corporate law, but also a prolific author, having written 40 books and more than 150 law review articles,” said Jennifer Collins, Judge James Noel Dean and Professor of Law at SMU Dedman School of Law. “His unique perspective as an expert witness in this case makes this attention-grabbing book a fascinating read.”
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