News & Analysis as of

Disgorgement Supreme Court of the United States Corporate Counsel

Bradley Arant Boult Cummings LLP

SEC Disgorgement Stuck in Circuit Split After Supreme Court Declines to Intervene

On June 6, 2025, the U.S. Supreme Court denied a petition for certiorari in Navellier & Associates, Inc. v. SEC, declining to resolve a circuit split regarding the circumstances under which the U.S. Securities and Exchange...more

Dorsey & Whitney LLP

IP Shell Games: Supreme Court to Review Liability of Corporate Affiliates for Trademark Infringement

Dorsey & Whitney LLP on

In a potential shakeup for corporate liability, the Supreme Court will hear oral argument this year on whether a real estate developer’s corporate affiliates should be responsible for a $46.6 million trademark infringement...more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Reins in SEC Disgorgement Powers

In Securities & Exchange Commission v. Govil, No. 22-1658, 2023 WL 7137291 (2d Cir. Oct. 31, 2023), the United States Court of Appeals for the Second Circuit dealt a setback to the enforcement agenda of the Securities and...more

Wiley Rein LLP

Third Circuit Sharply Limits FTC Authority to Obtain Monetary Relief as Supreme Court Prepares to Weigh In

Wiley Rein LLP on

Last week, in FTC v. AbbVie et al., the Third Circuit joined the Seventh Circuit in holding that the Federal Trade Commission (FTC) was not authorized to seek disgorgement as a remedy under Section 13(b) of the FTC Act –...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

Vinson & Elkins LLP

Making Them Pay: Supreme Court To Consider FTC’s Restitution Authority

Vinson & Elkins LLP on

On July 9, 2020, the U.S. Supreme Court announced that it would review the Federal Trade Commission’s authority to seek restitution in federal court for consumers who have been harmed by fraud and other misconduct in the...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

McGuireWoods LLP on

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

Seyfarth Shaw LLP on

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

Morrison & Foerster LLP

The Supreme Court Will Decide Courts’ Authority to Order Disgorgement in SEC Enforcement Cases

On November 1, 2019, the United States Supreme Court granted a writ of certiorari in Liu v. SEC, No. 18-1501, to address whether the Securities and Exchange Commission may obtain disgorgement in civil injunctive actions filed...more

Foley & Lardner LLP

Supreme Court May Give Brand Owners an Easier Path to Trademark Damages

Foley & Lardner LLP on

In a case that may have a major impact on trademark litigation across the country, the Supreme Court decided on June 28, 2019 to grant certiorari in Romag Fasteners, Inc., v. Fossil, Inc., et al., in which Romag has asked the...more

Proskauer - Advertising Law

SCOTUS to Decide Whether the Lanham Act Requires Proof of Willfulness for Disgorgement of Profits

On Friday, June 28, 2019, the Supreme Court granted certiorari in Romag Fasteners, Inc. v. Fossil, Inc. to decide whether a showing of willfulness is necessary to obtain a defendant’s profits under the Lanham Act....more

Thomas Fox - Compliance Evangelist

This Week in FCPA-Episode 56

This week, Jay and I have a wide-ranging discussion on some of the week’s top compliance related stories. We discuss: 1. The Kokesh case at the US Supreme Court is significant for SEC enforcement of the FCPA around profit...more

Cadwalader, Wickersham & Taft LLP

The Supreme Court May Review Whether Regulatory Enforcement Actions Seeking Disgorgement are Subject to a Five-Year Statute of...

Federal regulatory agencies, such as the Securities and Exchange Commission (“SEC”), the Commodity Futures Trading Commission (“CFTC”), and the Federal Energy Regulatory Commission (“FERC”), have the authority to impose...more

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