In SEC v. Teo, Case No. 12-1168 (3 rd Cir. Decided Feb. 10, 2014) [ an enhanced version of this opinion is available to lexis.com subscribers ] the Court, in a two to one decision, considered a question regarding the calculation of disgorgement and the... Read More
The D.C. Circuit Court of Appeals upheld the imposition of a penalty by the SEC which is over 100 times the amount of the disgorgement. The ruling was made in a case involving a registered representative charged with failure to supervise in a Commission... Read More
Disgorgement and the impact of the Fifth Amendment are issues which reoccur in SEC enforcement actions. Circuit Judge Loken, in an opinion concurring in part and dissenting in part, from an order affirming a grant of summary judgment in a Commission... Read More
The D.C. Circuit rejected challenges to a disgorgement order which used a zero basis for stock rather than a market quote for the share price and which imposed joint and several liability for the full amount on a defendant who claimed to have transferred... Read More
An insurance broker's settlement of claims for disgorgement of undisclosed contingent commissions does not represent covered loss under a combined lines professional liability insurance policy, according to a December 3, 2010 decision of the Illinois... Read More
In what the FCPA Blog termed a day of making history "for the most companies to simultaneously settle FCPA-related violations, [the] Global logistics firm Panalpina and five of its oil-and-gas services customers resolved charges with the DOJ and... Read More