Timothy D Katsiff David L Axelrod
July 29, 2020 | The Legal Intelligencer
'Liu v. SEC': Disgorging Clarity for Equitable RemedyIn a recent opinion, the U.S. Supreme Court held the Securities and Exchange Commission (SEC) has the authority under Section 78u(d)(5) to seek disgorgement as an equitable remedy as long as the amount of disgorgement does not exceed a wrongdoer's net profits and is awarded for victims. In the underlying action, the SEC brought a civil case against the petitioners.
By Timothy D. Katsiff, David L. Axelrod and Brittany M. Giusini-Tsoflias
7 minute read
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