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Supreme Court of the United States › Disgorgement › Securities Litigation

The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary... more +
The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term.  The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -
Bradley Arant Boult Cummings LLP

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

Bradley Arant Boult Cummings LLP on

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

Troutman Pepper Locke

Supreme Court Denies Certiorari in SEC Disgorgement Case

Troutman Pepper Locke on

On June 6, the U.S. Supreme Court denied the petition for certiorari in the case of Navellier & Associates, Inc. v. Securities and Exchange Commission (SEC). This decision effectively upholds the lower courts’ rulings,...more

Troutman Pepper Locke

SEC Briefs Disgorgement and Investor Harm in Navellier v. SEC

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In the recent Supreme Court case, Navellier & Associates, Inc. v. Securities and Exchange Commission (SEC), the petitioners sought a writ of certiorari challenging the decisions of the lower courts regarding the scope of...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: Oct. 1 Quarterly Review

Nutter McClennen & Fish LLP on

The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Reins in SEC Disgorgement Powers

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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

King & Spalding

Surprise Year-End SEC Disgorgement Legislation Settles Some Issues but Raises Others

King & Spalding on

The legitimacy and scope of the SEC’s “disgorgement” remedy have been the focus of increasing scrutiny for the better part of the past decade. Among other things, two Supreme Court decisions in the past four years placed...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Skadden, Arps, Slate, Meagher & Flom LLP on

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Jones Day

SEC Enforcement in Financial Reporting and Disclosure: 2019 Year-End Update

Jones Day on

We are pleased to present our annual year-end update on financial reporting and issuer disclosure enforcement activity for 2019. This White Paper focuses on the U.S. Securities and Exchange Commission's ("SEC") enforcement...more

BakerHostetler

The Supreme Court Reins in the SEC Further on Its Time to Pursue Enforcement Remedies

BakerHostetler on

On June 5, the United States Supreme Court unanimously decided in Kokesh v. SEC[1] that when the Securities and Exchange Commission (the SEC or the Commission) seeks the disgorgement of ill-gotten gains that a defendant...more

Jones Day

U.S. Supreme Court Significantly Limits SEC's Power to Recover Disgorgement

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On June 5, 2017, in an unanimous ruling in Kokesh v. SEC, No. 16-529, the United States Supreme Court significantly limited the breadth of the Securities and Exchange Commission's primary enforcement tool. The Court held that...more

McGuireWoods LLP

U.S. Supreme Court Rules Time Limits Apply to SEC Disgorgement Orders

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A unanimous United States Supreme Court held Monday, in Kokesh v. Securities and Exchange Commission, that the five-year statute of limitations under 28 U.S.C. § 2462 applies to disgorgement sought by the Securities and...more

Bass, Berry & Sims PLC

SCOTUS Limits SEC Disgorgement Remedies

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On June 5, 2017, the U.S. Supreme Court unanimously held that SEC disgorgement remedies used as punitive sanctions for violating federal securities laws constitute civil penalties and are subject to the five-year statute of...more

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