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Expert Analysis

Justices' SEC Disgorgement Ruling Vexes Net Profits Math

By Tom Best, John Nowak and Thomas Zaccaro (July 17, 2020, 5:41 PM EDT) -- In its recently issued decision in Liu v. U.S. Securities and Exchange Commission, the U.S. Supreme Court curbed the SEC's authority to seek disgorgement of ill-gotten gains in federal civil actions under Title 15 of the U.S. Code, Section 78u(d)(5)....

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