Legal Opinion
Kokesh v. Sec. & Exch. Comm'n
Supreme Court of the United States
Decided June 5, 2017No. 16–529PublishedCited by 153 opinions
1Opinion of the CourtJustice Sotomayor
A 5-year statute of limitations applies to any "action, suit or proceeding for the enforcement of any civil fine, penalty, or forfeiture, pecuniary or otherwise." 28 U.S.C. § 2462. This case presents the question whether § 2462 applies to claims for disgorgement imposed as a sanction for violating a federal securities law. The Court holds that it does. Disgorgement in the securities-enforcement context is a "penalty" within the meaning of § 2462, and so disgorgement actions must be commenced within five years of the date the claim accrues.
I
A
After rampant abuses in the securities industry led…
2Cases cited23 opinions
- Bell v. WolfishSupreme Court of the United States · 1979
- Blue Chip Stamps v. Manor Drug StoresSupreme Court of the United States · 1975
- Austin v. United StatesSupreme Court of the United States · 1993
- United States v. BajakajianSupreme Court of the United States · 1998
- Securities and Exchange Commission v. First Jersey Securities, Inc. And Robert E. BrennanCourt of Appeals for the First Circuit · 1996
18 more not listed; retrieve them via the Exa API.
3Cited by153 opinions
- Liu v. SEC. & Exch. Comm'nSupreme Court of the United States · 2020
- Jarkesy v. SECCourt of Appeals for the Fifth Circuit · 2022
- Tex. Advanced Optoelectronic Solutions, Inc. v. Renesas Elecs. Am., Inc.Court of Appeals for the Federal Circuit · 2018
- United States v. Walter ReedCourt of Appeals for the Fifth Circuit · 2018
- SEC v. GenAudio Inc.Court of Appeals for the Tenth Circuit · 2022
148 more not listed; retrieve them via the Exa API.