Cuban plays defense

Blogs: what can’t they do?  Apparently, Mark Cuban has decided that his blog is a litigation tool.  (See this earlier post for details of the case against Cuban.) In another weird turn in his insider trading saga, Cuban posted a press release from his lawyer Steven Best of Dewey & LeBouef, which in turn quotes a telephone transcript between another Dewey partner and the former CEO of Mamma.com.  Dewey and Cuban claim this transcript proves there was no agreement to keep the information confidential:

Q- We spoke earlier about you were telling Mr. Cuban in words or substance : “I have confidential information for you”.

A- Right.

Q- Do you recall anything Mr. Cuban said in response or reply to that statement by you ?

A- No, I do not.

The SEC knows this-they have the transcript, yet they brought the case anyway. Why?

This week, an attorney for the SEC’s enforcement division told the Wall Street Journal, “We’re not going to comment on anything Mr. Cuban or his lawyers have to say on Mr. Cuban’s blog and we look forward to presenting our case in court.”

So stay tuned, sports fans.

                         -posted by brian

My blog says, "Not Guilty"