Cuban in SEC sights

Mark Cuban, the billionaire owner of the Dallas Mavericks, should face insider-trading allegations that were dismissed last year by a lower-court judge, securities regulators told an appeals court.

The Securities and Exchange Commission sued Cuban in 2008 for allegedly trading on confidential information when he sold his stake in Mamma.com, a Canadian Internet firm, just before it announced a private placement of shares.

Separately, Cuban yesterday sought to force Major League Baseball to speed up its process for approving him as the buyer of the Texas Rangers if he wins tomorrow’s auction for the team.