‘The Supreme Court tames but does not end disgorgement in SEC cases: Liu v SEC

“By an 8-1 vote (with Justice Thomas dissenting), the Supreme Court in an opinion by Justice Sotomayor upheld – while limiting – the SEC’s power to seek disgorgement in fraud cases. Sotomayor sets the stage as follows: ‘In civil actions, the SEC can seek civil penalties and “equitable relief” …'” (more)

[ProfessorBainbridge.com, 23 June]

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