Vocal billionaire and owner of the Dallas Mavericks took the opportunity to speak out against the Securities and Exchange Commission (the “SEC”) ‘in-house’ administrative judges (appointed by the SEC), as opposed to Federal District Court judges (appointed by the President with the “Advise and Consent” of the United States Senate) of the to hear and adjudicate SEC enforcement actions. Mr. Cuban, who won a case brought by the the SEC in 2013, believes that had his case been heard by SEC administrative law judges (link here) he would have lost his case. The Wall Street Journal has the full story here.
Uploaded by Ryan Gustafson, Esq. September 15, 2015