Securities,
9th U.S. Circuit Court of Appeals
Jan. 27, 2020
Supporters join SEC’s crusade to save disgorgement
The high court will consider in March whether to uphold a 9th U.S. Circuit Court of Appeals holding that both disgorgement — the return of fraudulently-gained profits — and civil damages may be wielded against securities law cheats.
With oral argument looming in a U.S. Supreme Court appeal that could considerably curtail the Securities and Exchange Commission's power to recoup ill-gotten gains from fraudsters, the government and several supporting amici have submitted briefs arguing disgorgement should remain a weapon in the agency's arsenal of enforcement remedies.
The high court will consider in March whether to uphold a 9th U.S. Circuit Court of Appeals decis...
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