Mark Cuban, the billionaire owner of the Dallas Mavericks, can’t argue the U.S. Securities and Exchange Commission’s insider-trading case against him is mostly barred because the agency investigated him in an improper manner, a judge ruled…. The defense is available “only in strictly limited circumstances” including when misconduct “results in prejudice to the defense of the enforcement action that rises to a constitutional level and is established through a direct nexus between the misconduct and the constitutional injury,” which Cuban hasn’t shown, Fitzwater wrote in his ruling.
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