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Tired of the same old sports page? Then check out Paula Duffy’s insightful (and often humorous) take on the sports day! The popular co-host for Sports Journey Radio is also a contributor to the Huffington Post and founder of the sports learning site Incidental Contact. In her spare time, Duffy practices law in Los Angeles. But don’t hold that against her. You can follow Paula on Twitter or contact her at pvdsports@gmail.com.


 
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Cuban didn't agree to confidentiality say his lawyers

November 18, 4:19 PM
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Today's update in the case of the U.S. government vs. Mark Cuban is a juicy one. Cuban's representatives posted a tiny piece of an interview they conducted with the former CEO of mamma.com, Guy Feure.

The bottom line is that he denies an important fact in the government's complaint against the Dallas Mavericks owner.

Mr. Feure says that Cuban did not respond with anything that led him to believe he had agreed to keep in confidence what Mr. Feure was about to tell him.

This is critical to the case because the SEC alleges that :

"The CEO, in reliance on Cuban's agreement to keep the information confidential, proceeded to tell Cuban about the PIPE offering."

If there was no promise on which the CEO relied then a structural piece of the case is just not there. The confidentiality of the stock offering or the PIPE (private investment in public equity) is at the heart of the claim against Cuban.

There may be other facts that can support the SEC allegations but not this one. And this is the one they feature in the language of the lawsuit.

For more info: The full posting is on blogmaverick.com
Author: Paula Duffy
Paula Duffy is a National Examiner. You can see Paula's articles on Paula's Home Page.
Find out more about Paula:
Tired of the same old sports page? Then check out Paula Duffy’s insightful (and often humorous) take on the sports day! The popular co-host for Sports Journey Radio is also a contributor to the Huffington Post and founder of the sports learning site Incidental Contact. In her spare time, Duffy practices law in Los Angeles. But don’t hold that against her. You can follow Paula on Twitter or contact her at pvdsports@gmail.com.
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