Mark Cuban tells SEC: pay my legal fees

September 2, 2:40 PMSports ExaminerPaula Duffy

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Dallas Mavericks owner, Mark Cuban won round one in his battle with the U. S. Securities and Exchange Commission back in July and now he wants the agency to pay for his legal fees.

The federal agency had filed suit against Cuban, alleging he illegally traded stock in an internet company, mamma.com after learning information that resulted in the stock price sharply dropping.

As a result of that sale he avoided losing hundreds of thousands of dollars.  The full story can be found, here.

A judge agreed with Cuban's lawyers that the suit was without merit and all counts were dismissed. Not only was Cuban vindicated, but now he wants to be made whole.

The Associated Press reported on Wednesday that  he has petitioned the court to have his hefty legal fees paid by the SEC. In response to his demand, the agency's spokesman, John Nestor said the agency looks forward to dealing with the motion, "as we consider taking our insider trading case against Mr. Cuban up on appeal."

I will not bet against Cuban on this issue. When the suit was originally filed, he baited the agency with allegations of misconduct. He still believes that the case was filed against him as a result of his political views.

For more on the matter, please see these related articles:

Cuban accuses SEC staffer of misconduct    SEC staffer calls Cuban "unpatriotic"

Cuban's fight with SEC hits high point