Disgorgement or Accounting for Profits? An Analysis of Liu v. SEC from l definition of securities Watch Video

⏲ Duration: 39 min 96 sec
✓ Published: 08-Jan-2021

Description:
In Liu v. SEC (June 22, 2020), the Supreme Court of the United States held, in an enforcement action by the Securities and Exchange Commission, that a disgorgement order that did not exceed a wrongdoer’s net profits and was awarded for victims constituted “equitable relief” that was permissible under the Securities Exchange Act of 1934, 15 U.S.C. § 78u(d)(5), rather than punitive sanctions, which were historically excluded from the definition of “equitable relief” under the Act. nnThi