Corporate,
Civil Litigation,
9th U.S. Circuit Court of Appeals
Feb. 7, 2012
7th, 9th Circuit cases to affect federal equity receiverships
Two decisions may significantly alter the law governing federal equity receiverships.
Joshua A. del Castillo
Partner, Allen, Matkins, Leck, Gamble, Mallory & Natsis LLP
Phone: (213) 622-5555
The Securities and Exchange Commission, Federal Trade Commission, and Commodities Futures Trading Commission often seek appointment of receivers in civil enforcement actions, including those alleging operation of Ponzi-like investment schemes. Receivers are generally tasked with taking over entities used to perpetrate schemes, conducting forensic accountings, reporting their findings to the appointing court and recovering funds where possible, for distribution to defrauded investors.
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