News & Analysis as of September 21, 2024

Injunctive Relief

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Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period usually commencing from the date of the wrong or injury or the discovery of the wrong or injury. Except for under a limited set of circumstances, if an individual does not file a suit within the specified time period, the law bars them from ever suing on that claim. less -

Third Circuit Reversal a Pyrrhic Win for SEC in Ongoing Statute of Limitations Saga

Sheppard Mullin Richter & Hampton LLP on 10/17/2019

In Securities & Exchange Comm. v. Gentile, No. 18-1242, 2019 WL 4686251 (3d Cir. Sept. 26, 2019), the United States Court of Appeals for the Third Circuit took up the question of whether Securities and Exchange Commission...more

Supreme Court to Review SEC Enforcement Limitations

Burr & Forman on 1/16/2017

On Friday, January 13, the Supreme Court granted certiorari to resolve a Circuit split on the extent to which SEC enforcement actions are restricted by the five-year statute of limitations in 28 U.S.C. § 2462. Section...more

Eleventh Circuit Rules Disgorgement Subject to Five-Year Limitations Period, Ruling Against SEC

A&O Shearman on 6/13/2016

On May 26, 2016, a three-judge panel of the United States Court of Appeals for the Eleventh Circuit issued SEC v. Graham, a significant decision that, at least in the Eleventh Circuit, limits the ability of the Securities and...more

A Circuit Split is Born. Eleventh Circuit Rules Declaratory Relief and Disgorgement Sought by the SEC Are Subject to 5-Year...

McGuireWoods LLP on 6/7/2016

On May 26th, the Eleventh Circuit held that declaratory relief and disgorgement sought by the SEC are subject to the 5-year statute of limitations under 28 U.S.C. § 2462, but injunctive relief is not. The court’s holding...more

In Apparent First, Eleventh Circuit Extends Five-Year Statute of Limitations to Declaratory Relief and Disgorgement Actions by SEC...

BCLP on 6/3/2016

A federal appellate court recently held that the five-year statute of limitations in 28 U.S.C. § 2462 applies to actions by the Securities and Exchange Commission for declaratory relief and disgorgement. The decision extends...more

11th Cir: SEC Disgorgement, Declarative Relief Subject to 5-Yr Bar

Burr & Forman on 6/2/2016

Last week, the 11th Circuit held that the limitations period of 28 U.S.C. § 2462 bars disgorgement or declarative relief for acts having occurred five years before the SEC files an action. The Court drew a distinction...more

Eleventh Circuit Rules Disgorgement No Different Than Forfeiture, Barring SEC From Seeking Ill-Gotten Gains Outside Five-Year...

Proskauer - Corporate Defense and Disputes on 6/1/2016

A three judge panel in the Eleventh Circuit issued a ruling last Thursday in Securities and Exchange Commission v. Barry Graham et al., Case No. 14-13562, holding—contrary to several other circuits—that the remedy of...more

CFPB Director Cordray Issues First-Ever Agency Appellate Decision in RESPA Case

Foley & Lardner LLP on 6/5/2015

The Director of the Federal Consumer Financial Protection Bureau (CFPB), Richard Cordray, issued a decision yesterday in the first appeal of a Bureau administrative enforcement action. Cordray’s decision upholds in part,...more

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Statute of Limitations › Securities and Exchange Commission (SEC) › Injunctive Relief

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