News & Analysis as of

Disgorgement

Katten Muchin Rosenman LLP

Supreme Court to Decide Fate of SEC’s Disgorgement Power

The U.S. Supreme Court is set to resolve a critical circuit split over whether the Securities and Exchange Commission (“SEC”) must prove that investors were actually harmed to force wrongdoers to disgorge ill-gotten gains....more

Parker Poe Adams & Bernstein LLP

Supreme Court to Clarify SEC Disgorgement Standards Amid Circuit Split

Seeking to resolve a long-running circuit split regarding the proof of investor harm by the Securities and Exchange Commission (SEC) for purposes of a disgorgement order, the Supreme Court has agreed to hear the appeal of SEC...more

Herbert Smith Freehills Kramer

The US Supreme Court To Resolve Circuit Disputes On Administrative Enforcement Powers

On January 9, 2026, the Supreme Court granted certiorari in three cases to resolve disputes regarding the scope of administrative enforcement powers by the Securities and Exchange Commission and the Federal Communications...more

K&L Gates LLP

United States: Disgorgement Debate: Supreme Court to Hear Sripetch v. SEC

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The Supreme Court will soon once again weigh in on the US Securities and Exchange Commission’s (SEC) enforcement powers, this time addressing whether disgorgement is available without showing that victims suffered pecuniary...more

Alston & Bird

Supreme Court to Decide Whether SEC Disgorgement Requires Investor Harm

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The Supreme Court will consider this term whether the U.S. Securities and Exchange Commission (SEC) may seek disgorgement in enforcement actions lacking identifiable victims or pecuniary harm, resolving a split among the...more

Morgan Lewis

Securities Enforcement Roundup – December 2025

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In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from December 2025. ...more

Oberheiden P.C.

Filing a Lanham Act Lawsuit – 5 Things You Need to Know

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The Lanham Act establishes several grounds for businesses to pursue litigation against competitors and other parties that are misusing their trademarks and engaging in other forms of false and misleading advertising. When a...more

Holland & Knight LLP

CERTainly Getting Interesting: Supreme Court Again to Address SEC's Power to Obtain Disgorgement

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The U.S. Supreme Court on January 9, 2025, granted certiorari in Ongkaruck Sripetch v. U.S. Securities and Exchange Commission, a case from the U.S. Court of Appeals for the Ninth Circuit that tees up a circuit split on the...more

Troutman Pepper Locke

Supreme Court to Decide Key Question on SEC Disgorgement 

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On January 9, the U.S. Supreme Court granted certiorari in Ongkaruck Sripetch v. U.S. Securities and Exchange Commission (SEC). The case arises out of an SEC civil enforcement action in the Ninth Circuit and squarely presents...more

Dorsey & Whitney LLP

The Supreme Court Update - January 12, 2026

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On January 9, 2026, the Supreme Court of the United States granted certiorari in five cases: Cisco Systems, Inc. v. Doe I, No. 24-856: This case involves the Alien Tort Statute (“ATS”), 28 U.S.C. § 1350, and the Torture...more

Freiberger Haber LLP

Enforcement News: Former Chief Operating Officer and Former Managing Partner Charged with Participating in An Alleged $300 Million...

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This Blog has written about Ponzi schemes on numerous occasions. A Ponzi scheme is a type of investment fraud where returns to earlier investors are paid using investment capital from new or existing investors, rather than...more

Nelson Mullins Riley & Scarborough LLP

When Everyone Wants Cert: The U.S. Supreme Court May Finally Resolve the SEC Disgorgement Circuit Split

The U.S. Supreme Court may soon weigh in on one of the most consequential—and unsettled—questions in recent SEC enforcement jurisprudence: whether the Commission may seek disgorgement without proving that investors suffered...more

Sterne, Kessler, Goldstein & Fox P.L.L.C.

Trends in Trademark Damages Awards

One of the first questions we get from clients on either side of a trademark infringement claim is about the likelihood of a monetary damages award. And, as with all legal questions, the answer is usually, “it depends.”...more

Parker Poe Adams & Bernstein LLP

Cato Urges Supreme Court Review of SEC Disgorgement Authority Dispute

The Cato Institute filed an amicus brief this month urging the U.S. Supreme Court to resolve a growing split among the United States circuit courts of appeals concerning the Securities and Exchange Commission’s authority to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - November 2025

The Middle District of Tennessee allowed significant portions of a securities class action to proceed against Shoals Technology Group, Inc. (Shoals) and certain of its executives based on allegations that they made false and...more

Cornerstone Research

SEC Enforcement Actions Against Public Companies and Subsidiaries Drop by 30% in FY 2025

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93% of FY 2025 actions were filed before the SEC administration change. The U.S. Securities and Exchange Commission (SEC) brought 30% fewer enforcement actions against public companies and subsidiaries in FY 2025 than in FY...more

Parker Poe Adams & Bernstein LLP

SEC Disgorgement: A Growing Circuit Split Raises Stakes for Enforcement and Strategy

The split among federal circuit courts on when the Securities and Exchange Commission (SEC) can obtain disgorgement as a remedy in civil enforcement cases has prompted a man recently convicted of engaging in a "pump and dump"...more

Herbert Smith Freehills Kramer

Enforcing Trade Secrets across borders: A comparative look at the UK, EU, US, Australia and China - Co-ordinating enforcement...

Trade secrets are increasingly recognised as vital assets in the intellectual property portfolios of modern businesses. Unlike patents or trade marks, trade secrets derive their value from secrecy and for this reason do not...more

Foley & Lardner LLP

Disgorgement Appellate Court Clash — Next Up: The Supreme Court

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In Ongkaruck Sripetch v. U.S. Securities and Exchange Commission, the Petitioner has submitted a Petition for a Writ of Certiorari (the “Petition”) to the Supreme Court of the United States. This Petition stems from the...more

Troutman Pepper Locke

Potential Fourth Trial to Determine Punitive Damages in Trade Dress and Publicity Rights Infringement Case

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Punitive damages are on the line in a potential fourth trial between toy manufacturer, MGA Entertainment (MGA) and rapper T.I. and his wife (the Harrises)....more

Womble Bond Dickinson

How a Whistleblower Can Derail a DPA

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A recent suit illustrates how whistleblowers may adversely impact a company’s DPA, leading to further investigation by the DOJ and additional penalties. In 2023, Connecticut-based Freepoint Commodities LLC (Freepoint)...more

Loeb & Loeb LLP

Gibson, Inc. v. Armadillo Distribution Enterprises, Inc.

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In trademark action between two guitar manufacturers that ended with jury verdict finding use of counterfeit mark and intentional infringement, district court enjoins sale of infringing products, orders disgorgement of...more

Freiberger Haber LLP

Enforcement News: Company That Purchases Distressed Retail Companies Charged With Conducting Fraudulent Securities Offerings,...

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On September 25, 2025, the Securities and Exchange Commission (“SEC”) announced (here) that it charged the co-founders of Retail Ecommerce Ventures LLC (“REV”), and REV’s Chief Operating Officer (collectively, “Defendants”),...more

Herbert Smith Freehills Kramer

Ninth Circuit Affirms SEC Disgorgement Award Without Pecuniary Harm Showing, Deepening Circuit Split

In Securities and Exchange Commission v. Sripetch, the U.S. Court of Appeals for the Ninth Circuit affirmed a disgorgement award and determined that the Securities and Exchange Commission (SEC) need not show that investors...more

Miller Canfield

Sweet Showdown: Maker of NERDS Candy Sues Over DWEEBS Candy

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Ferrara Candy Company, the powerhouse behind NERDS®, is cracking down on what it calls a “copycat candy” in a newly filed federal lawsuit that’s making waves in the confectionery world. ...more

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