Panel Affirms Disgorgement Ruling In Investment Fraud Suit Under Kokesh

(November 15, 2018, 2:21 PM EST) -- CINCINNATI — A Sixth Circuit U.S. Court of Appeals panel on Nov. 13 ruled that a federal district court’s disgorgement order in a securities fraud lawsuit did not violate the double jeopardy clause of the of the Fifth Amendment to the U.S. Constitution based on the U.S. Supreme Court’s ruling in Kokesh v. SEC because the Kokesh ruling did not make Securities and Exchange Commission civil disgorgement a criminal punishment (United States v. Douglas A. Dyer, et al., Nos. 17-6174 and 17-6177, 6th Cir., 2018 U.S. App. LEXIS 32095)....

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