In brief: Court revives SEC lawsuit against Cuban
Basketball: A federal appeals court revived the Securities and Exchange Commission’s insider-trading lawsuit against Dallas Mavericks owner Mark Cuban on Tuesday, saying it was “plausible” he had agreed not to sell company stock to avoid a loss after receiving confidential information.
The case was sent back to a lower court in Dallas for further discovery and, if necessary, a trial. The appeals court did not rule on whether Cuban was wrong in selling the stock, saying that was a question for the Dallas court.
The SEC’s civil lawsuit accuses the Dallas billionaire of selling shares in the Internet search engine company Mamma.com Inc. in 2004, avoiding a $750,000 loss after learning the company was going to offer stock to private investment companies at a discounted rate.
Colorado, Nebraska pay big to leave early
College football: Nebraska’s departure from the Big 12 will cost the university more than $9 million and Colorado is leaving more than $6 million behind to join the Pac-10 next year.
The Big 12 and the universities announced settlements in which the conference will withhold millions in distributions.
The Big 12, under its bylaws, had sought to withhold an estimated $19.4 million from Nebraska and between $15-$20 million from Colorado.
Under the settlement mediated by Eric Green of Boston, Nebraska can reduce its penalty to $8.755 million if the Cornhuskers are one of two Big 12 teams to play in a BCS bowl game this season.
• Dantonio released from hospital: Michigan State head coach Mark Dantonio was released from the hospital in East Lansing, Mich., two days after suffering a mild heart attack following an overtime win against Notre Dame.
• MSU player linked to theft: Michigan State sophomore tight end Dion Sims is among 10 men charged in the theft of 104 Detroit Public Schools laptop computers valued at $158,000.
• Badgers lose Borland: Wisconsin coach Bret Bielema said that linebacker Chris Borland is out for the season and that the school will pursue a medical redshirt for the sophomore because of a lingering left shoulder injury.
• Bearcats tight end will sit: Cincinnati tight end Ben Guidugli will miss Saturday’s game against No. 7 Oklahoma because of a sprained ankle.
• Iowa loses Hampton: Iowa coach Kirk Ferentz said that redshirt sophomore running back Jewel Hampton will have knee surgery and is likely out the rest of the season.
• BYU quarterback out for season: BYU says quarterback Riley Nelson is done for the season because of an injury to his right shoulder.
Turner Sports strikes deal with NCAA
Miscellany: Turner Sports and the NCAA announced a 14-year digital rights deal that includes management of NCAA.com, the primary web site for all 88 NCAA tournaments and other services.
Beginning this season, Turner will carry games on three of its cable channels (TBS, TNT and truTV), will begin alternating title game broadcasts with CBS in 2016 and now holds digital rights to all NCAA championships across all three divisions.
• Commonwealth Games in disarray: Less than two weeks before it begins, one of the world’s biggest sports events is in jeopardy as organizers in New Delhi struggle to cope with unfinished buildings, a filthy athletes’ village called “unfit for human habitation,” a bridge collapse, concerns over security and corruption, and an outbreak of dengue fever.
The Commonwealth Games – to be held Oct. 3-14 – bring together more than 7,000 athletes from 71 countries and territories every four years.The frenzied, last-minute preparations are in such disarray that some officials are speculating that a few teams could withdraw or the event could be called off.