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The ruling is a win for Wall Street, whose advocates argued that placing disgorgement into a different category, as urged by the government, would give the commission too much power to go after "stale" claims.
70) Justice Thomas then noted that, both in water disputes and in contract law, disgorgement was an "extraordinary remedy" for three reasons.
victims (similar to restitution (50)), but the SEC views disgorgement as
Traditionally, waiver of tort involves situations where a plaintiff elects the remedy of disgorgement of a defendant's gains rather than compensation.
Lacierda declined to comment on how the disgorgement will be implemented, saying the questions are "hypothetical.
The Supreme Court denied the motion, saying the SEC order "does not contain an explicit finding that Bear Stearns directly obtained ill-gotten gains or profited by facilitating these trading practices,' and thus does not establish that the disgorgement was excluded from coverage.
8 million plus interest for disgorgement, and a penalty of $400,000.
BAS agreed to pay more than $36 million in disgorgement and interest to settle the SEC's charges, and paid an additional $101 million to other federal and state authorities for its misconduct.
De Biase's behaviour merited the disgorgement of profits, plus an additional penalty element of [pounds sterling]500,000, but because this level of fine would cause De Biase serious financial hardship, the level of additional penalty has been reduced.
For its enforcement actions to be successful, SEC must have a collection and distribution program for both civil monetary penalties and disgorgement that functions effectively.
Cuomo's lawsuit seeks payment of damages an disgorgement of all fees by Merkin.
RIM is not required to pay disgorgement or a monetary penalty.