The Swedish prosecutor has informed that the appeal against the February, 15, 2019, ruling by the Stockholm city court has been withdrawn, with respect to the disgorgement claim against Telia Company AB.
Telia Company sait it completed all financial obligations under the global settlement agreements and no further disgorgement claim will be made against Telia Company by the Swedish prosecutor or by any other authority related to this matter.
Since Texas Gulf Sulphur, the Securities Enforcement Remedies and Penny Stock Reform Act of 199022 and section 308 of the Sarbanes-Oxley Act of 200223 have combined to provide the SEC with the ability to seek disgorgement through administrative proceedings.
Equitable disgorgement has been largely unchallenged since its conception.
(10) The 1990 Remedies Act also explicitly affirmed that the SEC had the power "to order disgorgement
of illegal profits in administrative proceedings against regulated entities." (11) While this gave the SEC the express authority to seek disgorgement
in administrative actions, Congress was silent as to the SEC's authority to pursue disgorgement
awards in federal court proceedings.
TBA, which is in the process of winding down its operations, has agreed to settle the SEC's charges by paying more than $1.7 million in disgorgement
, interest and penalties for these and other violations.
The Securities and Exchange Commission (SEC) long has relied on disgorgement
of ill-gotten gains as a principal penalty in civil securities fraud litigation, especially in insider trading cases brought under Securities Exchange Act section 10(b) and Rule 10b-5.
SEC that disgorgement
of ill-gotten gains by a defendant in a Securities and Exchange Commission (SEC) action is a penalty subject to the five-year statute of limitations provision in 28 U.S.C.
Court of Appeals for the 5th Circuit opposing a lawsuit by the state of Texas that requests "restitution and disgorgement
" payment from the Nuclear Waste Fund.
United States that the commission's "disgorgement
" orders imposed on fraudsters amounted to a penalty and as such, must meet a five-year statute of limitations.
Besides, the US FTC is also seeking the courts to offer a ruling to result in required equitable relief that also includes both restitution and disgorgement
(45) After failing to resolve the dispute through arbitration, Kansas filed suit at the Supreme Court, requesting damages, an injunction, and disgorgement
. (46) The Court appointed a Special Master to manage the proceedings.
The SEC seeks disgorgement
, restitution, penalties and an injunction.
to order securities violators to pay disgorgement
. The SEC sometimes