Justices Skeptical Of SEC Disgorgement Without Time Limits
By Dan McCaughey, Annie Hancock, Matthew Tolve and Janine Paré, Ropes & Gray LLP (April 20, 2017, 6:42 PM EDT) -- On Tuesday, the U.S. Supreme Court heard oral argument in Kokesh v. U.S. Securities and Exchange Commission to decide whether the five-year statute of limitations established in 28 U.S.C. § 2462 applies to disgorgement claims in SEC enforcement actions. During the argument, a number of the justices expressed skepticism that the SEC could bring disgorgement claims for conduct reaching back in time indefinitely. If the court determines that the statute of limitations does apply to disgorgement claims, it would meaningfully limit the uncertainty, expense and evidentiary disadvantages faced by entities and individuals responding to SEC investigations into conduct dating back more than five years....
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!