News & Analysis as of

Equitable Relief Corporate Counsel

Troutman Pepper

Circuit Decision Provides SEC Roadmap to Seek Disgorgement Post-Liu

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On October 12, the Fifth Circuit Court of Appeals affirmed a district court’s decision in SEC v. Blackburn, awarding disgorgement to alleged victims of a penny stock fraud scheme subject to SEC enforcement action. This...more

Faegre Drinker Biddle & Reath LLP

Strange Bedfellows – How a Recent Security Fraud Opinion May Impact Consumer Fraud Class Actions

The U.S. Supreme Court’s recent decision in Liu v. SEC, No. 18-1501 (June 22, 2020), limiting the SEC’s ability to obtain monetary equitable relief in securities fraud litigation, may seem an odd topic for this blog. But Liu...more

Mintz - Securities Litigation Viewpoints

Liu v. SEC —SCOTUS Weighs In, But Disgorgement Questions Remain

On June 22, 2020, the Court issued its 8-1 opinion in Liu et al. v. Securities and Exchange Commission, No. 18-1501, 591 U.S. ____, 2020 U.S. LEXIS 3374 (2020) (Sotomayor, J.), holding that a disgorgement award is “equitable...more

McGuireWoods LLP

Still Standing: SEC Disgorgement Survives with Limitations

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In Liu v. SEC, the Supreme Court answered the question that remained following its 2017 opinion in Kokesh v. SEC: “whether, and to what extent, the SEC may seek ‘disgorgement’ in the first instance through its power to award...more

Seyfarth Shaw LLP

SCOTUS Oral Argument Suggests SEC Disgorgement Will Survive—But Might Be Limited To Victim Compensation

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Seyfarth Synopsis: On Tuesday, March 3, 2020, the Supreme Court heard oral arguments in Liu et al v. Securities and Exchange Commission, in what some thought would be a landmark case on the SEC’s power to seek disgorgement...more

Foley Hoag LLP - White Collar Law &...

Supreme Court Seems Poised to Limit But Not Eliminate SEC Disgorgement in Judicial Proceedings

On Tuesday, the Supreme Court heard oral argument in Liu v. SEC, which concerns whether, or to what extent, the SEC may ask courts to disgorge defendants’ ill-gotten gains. As I discussed in a previous post, disgorgement...more

Skadden, Arps, Slate, Meagher & Flom LLP

2019-20 Supreme Court Update

The U.S. Supreme Court’s 2019-20 term is receiving substantial attention for cases involving signature initiatives of President Donald Trump’s administration. But the Court also maintains an extensive docket directly relevant...more

Smart & Biggar

Federal Court issues unprecedented site-blocking order requiring Internet Service Providers to impede access to piracy services

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On November 15, 2019, the Federal Court issued an Order compelling Canada’s primary Internet service providers (“ISPs”) to block their subscribers from accessing two Internet services that distribute infringing television and...more

Jones Day

Seventh Circuit Curtails FTC's Authority to Seek Restitution

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The Situation: Overruling its precedent, the United States Court of Appeals for the Seventh Circuit held that the Federal Trade Commission ("FTC") may not seek restitution under FTC Act Section 13(b) because the statute,...more

Cole Schotz

Claims For Trespass: A New Trend In Website Accessibility Cases Filed In Florida?

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Lawsuits filed under Title III of the Americans with Disabilities Act, or ADA, do not carry with them any right to money damages on behalf of the person who files the lawsuit. The person suing has no right to demand payment...more

Sheppard Mullin Richter & Hampton LLP

5 TCPA Class Action Trends to Watch in 2018 – Legislation, Administrative Law & Litigation

Have the GOP’s Hopes for Enacting the Fairness in Class Action Litigation Act Been Dashed? – Passed in March 2017 by the U.S. House of Representatives, the Fairness in Class Action Litigation Act of 2017, H.R. 985, has...more

Dorsey & Whitney LLP

Eleventh Circuit: Arbitration Clauses Are Like Makeup – They Only Cover So Much

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The Kardashians, America’s favorite celebrity family, have been having a tough time of late, with Kim Kardashian being robbed at gunpoint in her Paris apartment, and her husband Kanye West attracting criticism for his support...more

Proskauer - Corporate Defense and Disputes

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

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

Cozen O'Connor

Supreme Court Sends ERISA Plans Racing to the Courthouse for Subrogation Recoveries

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The Supreme Court of the United States recently handed down a decision that opens the door for participants in ERISA-covered benefits plans to stop a lawsuit against them in its tracks by doing something that most people love...more

McGuireWoods LLP

Supreme Court Limits ERISA Healthcare Plan’s Reimbursement Rights: What Montanile Really Means

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Last week, the United States Supreme Court held that an ERISA healthcare benefit plan with reimbursement rights can only obtain “appropriate equitable relief” when enforcing its lien against a third-party settlement, thus...more

Proskauer - California Employment Law

California Enacts a Raft of New Employment Legislation

The latest legislative session has just ended, and, true to form, the California Legislature has added more than a dozen new laws affecting employers doing business in the nation’s largest state.  These statutes are in...more

Foley & Lardner LLP

En Banc Federal Circuit Preserves The Patent Laches Defense Over Dissent

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In a divided en banc decision in SCA Hygiene Products v. First Quality Baby Products, the Federal Circuit preserved the defense of laches for patent cases even though the Supreme Court eliminated that defense in copyright...more

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