U.S. Supreme Court,
Securities
Nov. 13, 2019
Supreme Court set to rule on legality of SEC’s use of disgorgements
It is a classic situation: The Securities and Exchange Commission brings an action in federal court against an alleged fraudster, the SEC prevails at summary judgment or trial, and the court orders the defendant to disgorge the ill-gotten gains. But this familiar scenario may become extinct.
Jared L. Kopel
Senior Counsel
Alto Litigation PC
Email: jared@altolit.com
Alto Litigation PC, a San Francisco litigation firm specializing in securities, intellectual property and commercial litigation. Mr. Kopel's practice includes shareholder litigation and the defense of Government investigations.
It is a classic situation: the Securities and Exchange Commission brings an action in federal court against an alleged fraudster, the SEC prevails at summary judgment or trial, and the court orders the defendant to disgorge the ill-gotten gains. But this familiar scenario may become extinct if the U.S. Supreme Court decides that disgorgement lacks any statutory basis and is not a valid form of equitable relief in SEC enforcement proceedings for violations of the feder...
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