Disgorgement Recalculation, Retroactive Application Of NDAA Upheld By 2nd Circuit

(June 30, 2023, 11:06 AM EDT) -- NEW YORK — A trial court properly recalculated a fugitive joint venture capitalist’s disgorgement obligation related to misappropriating funds in light of 2021 amendments to the Securities Exchange Act of 1934, a Second Circuit U.S. Court of Appeals panel ruled in an opinion in which it vacated portions of the ruling concerning frozen assets challenged by the fugitive’s wife and minor children....