U.S. Supreme Court Places Limits On SEC Disgorgement Awards

Mealey's (June 22, 2020, 1:43 PM EDT) -- WASHINGTON, D.C. — The Securities and Exchange Commission may seek disgorgement as an equitable form of relief under federal statute in situations where seeking such an award will not exceed the net profits obtained by a wrongdoer and is awarded for victims, the U.S. Supreme Court ruled June 22 in an 8-1 decision (Charles C. Liu, et al. v. Securities and Exchange Commission, No. 18-1501, U.S. Sup., 2020 U.S. LEXIS 3374)....