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Statute of Limitations › Enforcement Actions › Securities Violations

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... more +
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 -
Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: October 1, 2022

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The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more

Burr & Forman

Congressional Override Grants SEC 10-Year Statutory Disgorgement Remedy

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On the new year’s first day, Congress passed the NDAA over President Trump’s veto and gave the SEC more clear – and longer – disgorgement authority for enforcement actions in the courts....more

Cadwalader, Wickersham & Taft LLP

A New Year’s Booster Shot: Congress Grants the SEC a Statutory Disgorgement Remedy and Extended Statute of Limitations

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Congress opened 2021 by overturning one of President Trump’s vetoes for the first time. By large bipartisan majorities, the House and Senate overturned a presidential veto and enacted the 2021 National Defense Authorization...more

Faegre Drinker Biddle & Reath LLP

SEC Disgorgement: Looking to the Future

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On March 3, 2020, the Supreme Court heard arguments in the case of Liu v. SEC, No. 18-1501. This article summarizes what transpired at the hearing, in which the arguments centered on a challenge to the ability of the U.S....more

Holland & Knight LLP

Supreme Court Considers SEC's Authority to Seek Disgorgement in Judicial Proceedings

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The U.S. Supreme Court heard arguments in Liu v. SEC, a case in which the petitioner challenged the U.S. Securities and Exchange Commission's (SEC) statutory authority to pursue the remedy of disgorgement in federal court....more

Dorsey & Whitney LLP

SEC Disgorgement: Who Gets the Money?

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Liu v. SEC, No. 18-15-1, argued before the Court last week, is potentially one of the most important cases to be heard by the Supreme Court on SEC Enforcement. The question under consideration is whether the Securities and...more

A&O Shearman

United States Supreme Court Hears Oral Arguments In Liu v. SEC to Determine Whether the SEC Can Seek Disgorgement in Judicial...

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On March 3, 2020, the Supreme Court heard oral arguments in Liu v. SEC, No. 18-1501, once again taking up the question of whether the Securities and Exchange Commission (“SEC”) may seek disgorgement as equitable relief in a...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

Cozen O'Connor

Supreme Court Appears Unlikely to Further Curtail SEC Disgorgement Authority

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The fate of the Securities & Exchange Commission (SEC)’s ability to obtain disgorgement moved one step closer to a decision this week with oral arguments before the Supreme Court in Liu v. SEC. The high court appeared willing...more

Foley Hoag LLP - White Collar Law &...

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

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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

K&L Gates LLP

Supreme Court Hears Oral Arguments in Liu v. SEC to Determine the Fate of the SEC’s Ability to Seek Disgorgement in Judicial...

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On March 3, 2020, the Supreme Court heard oral arguments in Liu v. SEC, once again taking up the question of whether the Securities and Exchange Commission (“SEC”) may seek disgorgement as equitable relief for a securities...more

Hogan Lovells

Status Quo? Supreme Court to Decide SEC's Disgorgement Authority

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This week, on March 3, 2020, the Supreme Court heard oral arguments in Liu v. SEC to determine whether the SEC has authority to seek disgorgement of ill-gotten gains in federal court. ...more

Goodwin

Supreme Court Appears Poised to Limit, But Ultimately Uphold, SEC’s Power to Obtain Disgorgement In Enforcement Actions Brought In...

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On March 3, 2020, the U.S. Supreme Court heard argument in Liu v. Securities and Exchange Commission, a case about whether disgorgement is an available remedy in SEC enforcement actions filed in federal court under a...more

BakerHostetler

SEC Fights to Retain Disgorgement Power

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Last week, the U.S. Securities and Exchange Commission (SEC) filed its brief in Liu v. SEC, claiming that disgorgement in federal courts is within its statutory authority and that the U.S. Supreme Court should not disrupt...more

Akin Gump Strauss Hauer & Feld LLP

Liu v. SEC: Supreme Court Agrees to Hear Challenge to SEC’s Ability to Obtain Disgorgement

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• The Supreme Court will review whether the SEC has the authority to obtain disgorgement in actions to enforce the federal securities laws. • Since the Supreme Court’s decision in Kokesh v. SEC, 137 S. Ct. 1635 (2017),...more

Jones Day

Supreme Court to Review SEC's Authority to Obtain Disgorgement

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The Situation: The U.S. Supreme Court has granted certiorari to consider whether the Securities and Exchange Commission ("SEC") has authority to obtain disgorgement in district court actions. The Significance: The SEC...more

Dorsey & Whitney LLP

Remedies in SEC Enforcement Actions: The End of Disgorgement?

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The Supreme Court granted certiorari in a case that may well have a very significant impact on the remedies available in Commission enforcement actions: Liu v. Securities and Exchange Commission, No. 18-1501 (Cert. granted...more

Foley Hoag LLP - White Collar Law &...

Supreme Court to Decide Whether SEC Can Disgorge

Foley Hoag LLP - White Collar Law &... on

The Supreme Court has granted certiorari to decide whether the U.S. Securities and Exchange Commission can seek and obtain disgorgement from a court as a remedy for a securities violation. A decision that the SEC does not...more

Latham & Watkins LLP

Supreme Court to Review SEC’s Authority to Seek Disgorgement

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The Supreme Court has agreed to hear a case that challenges the SEC’s authority to pursue disgorgement in civil enforcement actions. Key Points: ..The upcoming case will resolve a split of authority on whether the SEC...more

Sheppard Mullin Richter & Hampton LLP

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

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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

King & Spalding

The Catch with Kokesh: Insurers Refusing to Cover Disgorgement to SEC

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In the wake of the Supreme Court’s unanimous decision in Kokesh v. SEC, which defined disgorgement as a penalty subject to the five-year statute of limitations, we observed that the decision was likely to have far-reaching...more

Sheppard Mullin Richter & Hampton LLP

Supreme Court Deals Blow to SEC By Applying Five-Year Statute of Limitations to Disgorgement Remedies in SEC Enforcement Actions

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On June 5, 2017 the Supreme Court dealt a significant setback to the Securities and Exchange Commission (“SEC”) by limiting its power to extract ill-gotten profits from securities laws violators....more

WilmerHale

Implications of the Supreme Court's Kokesh Decision

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Earlier this month, the Supreme Court ruled unanimously in Kokesh v. SEC that a claim for disgorgement arising from the violation of federal securities law constitutes a “penalty” for purposes of the general statute of...more

King & Spalding

Reflections on Kokesh v. SEC: Potential Ramifications of SEC Disgorgement Being a Penalty

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In the week since the Supreme Court’s unanimous decision in Kokesh v. SEC, which rejected the Securities and Exchange Commission’s longstanding position that disgorgement was an equitable remedy not subject to the five-year...more

Pillsbury Winthrop Shaw Pittman LLP

SEC’s Negotiating Power Curbed - U.S. Supreme Court holds disgorgement subject to a five-year statute of limitations

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Earlier this week, the U.S. Supreme Court resolved a circuit split among the Tenth and Eleventh Circuit Courts of Appeals by holding that because disgorgement in a Securities and Exchange Commission (SEC) enforcement action...more

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