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Certiorari Enforcement Actions Penalties

Foley & Lardner LLP

U.S. Supreme Court Rules SEC Must Try Securities Fraud Cases in Federal Jury Trials Rather than In-House Courts

Foley & Lardner LLP on

On June 27, 2024, the U.S. Supreme Court ruled that when the SEC seeks civil penalties against a defendant for securities fraud, the Seventh Amendment entitles the defendant to a jury trial. In a 6–3 decision, Chief Justice...more

Faegre Drinker Biddle & Reath LLP

SEC Disgorgement: Looking to the Future

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?

Dorsey & Whitney LLP on

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

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

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...

K&L Gates LLP on

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

Akin Gump Strauss Hauer & Feld LLP

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

• 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

Jones Day on

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?

Dorsey & Whitney LLP on

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

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

Latham & Watkins LLP on

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

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