JOSEPH GALLAGHER AUTHORS NYLJ ARTICLE ABOUT DISGORGEMENT IN THE WAKE OF LIU V. SEC
July 28, 2020
Partner Joseph Gallagher published an article in the New York Law Journal this week discussing the recent decision by the U.S. Supreme Court in Liu v. SEC. In an 8-1 opinion, the court held that disgorgement is equitable, so long as it is done the right way. “Otherwise, it would constitute a penalty, and fall outside the scope of remedies Congress authorized the SEC to seek,” writes Joe. “This has meaningful repercussions for securities defendants facing the prospect of multi-million-dollar disgorgement orders.” Joe is a commercial litigator with more than a decade of experience handling business and financial services disputes.