SEC v. Kokesh — Securities Law Prof Blog

The Supreme Court of the United States has handed down a unanimous opinion authored by Justice Sonia Sotomayor in SEC v. Kokesh.  At issue was the statute of limitations in disgorgement actions by the SEC.  The Court held “Because SEC disgorgement operates as a penalty . . . , any claim for disgorgement in an SEC enforcement action must be commenced within five years of the date the claim accrued.”

via SEC v. Kokesh — Securities Law Prof Blog