Over the last ten days, 700 companies and 70 for-profit colleges received notice of the FTC’s intent to pursue civil penalties under Section 5(m)(1)(b), if these companies and colleges engage in certain conduct deemed by the...more
It was an extraordinary week as the FTC continued to press the frontier of the post-AMG Capital Management landscape. On Friday, the Commission, making good on promises to creatively explore all of its options for...more
Making good on promises to creatively explore all of its options for enforcement, the FTC yesterday notified 70 for-profit higher educational institutions that it intends to use its long dormant Penalty Offense Authority to...more
Last Month, in AMG Capital Management, LLC v. FTC, the Supreme Court ruled that Section 13(b) of the FTC Act does not allow for monetary remedies. While the importance of this ruling is plain, its implications are only now...more
Yesterday, less than a week after the Supreme Court’s unanimous decision in AMG Capital Management v. FTC, two Congressional committees zeroed in on the FTC’s hollowed-out Section 13(b) authority, the fate of which now lies...more
The FTC today announced four new enforcement actions and one new settlement alleging deceptive income claims in violation of the FTC Act. The FTC noted that these actions are part of a broader initiative branded as...more
The Supreme Court issued an 8 to 1 decision today in the highly-anticipated case of Liu v. SEC. The opinion, authored by Justice Sotomayor (with Justice Thomas dissenting), holds that “[a] disgorgement award that does not...more
6/25/2020
/ 15 U.S.C. § 78u(d)(5) ,
Administrative Authority ,
Business Expenses ,
Calculation of Damages ,
Corporate Misconduct ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Net Profits ,
Remedies ,
SCOTUS ,
Securities and Exchange Commission (SEC)
Yesterday, Commissioner Christine Wilson testified before the U.S. House Committee on Energy and Commerce Subcommittee on Consumer Protection and Commerce, and asked Congress to clarify the extent of the FTC’s authority to...more
Last month, we wrote about the decision of the U.S. Court of Appeals for the Third Circuit in FTC v. Shire Viropharma Inc., holding that the FTC may only bring a case under Section 13(b) of the FTC Act when the FTC can...more
Last week, Gonzalo wrote about the letter Truth in Advertising sent to the FTC, urging the Commission to investigate Diageo’s use of influencers to market Ciroc vodka on Instagram. And earlier this week, we learned that the...more