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“People are very resourceful and they’ll find the means to get the best people they can,” he said.

Mr. Hennington said his firm, Hennington & Associates, has worked for government clients as well, though that work is not as well publicized.

The SEC disclosed plans to hire a contractor in a notice posted recently on a federal contracting website. The notice requires that the contractor provide more than two dozen mock jurors from the location where a trial is being held.

Under SEC Chairman Mary Jo White, the SEC is pushing for tougher settlements and more admissions of wrongdoing from defendants, all of which could lead to more trials.

“Following a change I made in June to the SEC’s no admit/no deny settlement protocol to require admissions in certain cases, some have predicted that more of our cases will go to trial,” Ms. White said.

“And some have asked whether the agency’s trial lawyers are ready to go up against the best of the white collar defense bar. It will probably come as no surprise to you, but my answer is a resounding yes.”

A former U.S. attorney for the Southern District of New York, Ms. White had a reputation as a tough prosecutor and is the first former prosecutor to head the SEC.

Despite the loss against Mr. Cuban, she’s defended the SEC’s trial unit.

“Over the past three years, our team has achieved an 80 percent success rate — a rate that may explain why most lawyers counsel their clients against going to trial against the SEC and why we achieve strong settlements in most of our cases,” she said in a November speech.