Legal Opinion
Securities & Exchange Commission v. Koenig
Court of Appeals for the Seventh Circuit
Decided February 26, 2009No. 08-1373PublishedCited by 54 opinions
1Opinion of the Court
EASTERBROOK, Chief Judge.
Waste Management, Inc., grew at an average annual rate of 26% from 1979 through 1991. When growth fell off, James Koenig, its Chief Financial Officer, decided to improve appearances. He devised several accounting strategies that a jury found to be fraudulent. The district judge imposed a civil penalty of about $2.1 million and ordered Koenig to disgorge the bonuses he received in 1992, 1994, and 1995 ($831,500, plus more than $1.2 million in prejudgment interest). Bonuses depended on Waste Management’s profits. If its profits had been stated correctly, the judge…
2Cases cited21 opinions
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- TSC Industries, Inc. v. Northway, Inc.Supreme Court of the United States · 1976
- United States v. KubrickSupreme Court of the United States · 1979
- Holmberg v. ArmbrechtSupreme Court of the United States · 1946
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3Cited by54 opinions
- Gabelli v. Securities & Exchange CommissionSupreme Court of the United States · 2013
- Metavante Corp. v. Emigrant Savings BankCourt of Appeals for the Seventh Circuit · 2010
- RK Co. v. SeeCourt of Appeals for the Seventh Circuit · 2010
- Securities & Exchange Commission v. GabelliCourt of Appeals for the Second Circuit · 2011
- Estate of Rudy Escob v. Brian MartiCourt of Appeals for the Seventh Circuit · 2012
49 more not listed; retrieve them via the Exa API.