Supreme Court To Review SEC's Right To Seek Disgorgement

Law360 (November 1, 2019, 2:36 PM EDT) -- The U.S. Supreme Court agreed Friday to hear a case challenging the U.S. Securities and Exchange Commission's authority to seek disgorgement.

The justices have taken up a case that leans on 2017's Kokesh ruling to argue the U.S. Securities and Exchange Commission can't seek disgorgement as a form of "equitable relief." (AP)

Charles Liu and Xin Wang, who had been accused of scamming Chinese immigrant investors out of millions, have argued the Supreme Court's 2017 decision in Kokesh v. SEC stripped the SEC of its ability to seek disgorgement as a form of "equitable relief."

The Kokesh ruling said the SEC's...

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