U.S. Supreme Court,
Securities
Mar. 12, 2020
SEC may keep its disgorgement remedy
Last week, the U.S. Supreme Court heard argument in Liu v. SEC, which threatened to upend perhaps the most important sanction in the Securities and Exchange Commission’s arsenal — disgorgement.
John W. Berry
Partner
Munger, Tolles & Olson LLP
350 S Grand Ave
Los Angeles , CA 90071
Email: John.Berry@mto.com
University of Virginia School of Law
John is a former SEC Enforcement Division senior officer who focuses on SEC and other white collar matters, cybersecurity issues, as well as securities-related and other high-stakes commercial litigation.
Last week, the U.S. Supreme Court heard argument in Liu v. SEC, which threatened to upend perhaps the most important sanction in the Securities and Exchange Commission's arsenal -- disgorgement. The petitioners in Liu, who were found liable for bilking investors of almost $30 million, are challenging whether the SEC has the power to seek that remedy in court at all. Just a couple of years ago, the Supreme Court l...
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