U.S. Supreme Court,
Securities,
Civil Litigation
Nov. 4, 2019
High court to hear appeal of SEC’s disgorgement power
The U.S. Supreme Court agreed Friday to hear an appeal challenging the U.S. Securities and Exchange Commission’s ability to seek disgorgement as a way to recoup ill-gotten profits from wrongdoers.
The U.S. Supreme Court has agreed to hear an appeal challenging the U.S. Securities and Exchange Commission's ability to seek disgorgement as a way to recoup ill-gotten profits from wrongdoers.
The appeal was filed by attorneys for Charles Liu and his wife Xin Wang who after being accused of scamming Chinese investors out of millions of dollars were ordered by U.S. District Judge
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Related Content
Administrative Agencies
Kokesh v. SEC
Claims for disgorgement in SEC enforcement actions are subject to 28 U.S.C. Section 2462's five-year limitations period because disgorgement claims operate as penalty.
