NJ Case Bolsters The Limitations Defense Against SEC
By Joseph Dever and Matthew Elkin (January 2, 2018, 1:01 PM EST) -- It's a bit tricky advising clients on how the statute-of-limitations defense works in U.S. Securities and Exchange Commission enforcement cases. SEC civil enforcement actions are subject to the five-year statute of limitations period under 28 U.S.C. § 2462. This provision bars the government from filing claims seeking punitive remedies, but not equitable remedies, for conduct that took place more than five years from the filing date. Last summer, the U.S. Supreme Court ruled in Kokesh v. SEC, 137 S. Ct. 1635 (2017), that SEC disgorgement claims are punitive, not equitable, and are therefore subject to Section 2462's statute of limitations. After...
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!