Case Law

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Five-Year Statute Applies to Claims for Disgorgement

The Supreme Court ruled [June 5, 2017] that claims for” data-gt-translate-attributes='[{“attribute”:”data-cmtooltip”, “format”:”html”}]’>disgorgement brought by the SEC are governed by a five-year statute of limitations. The Court’s unanimous opinion in Kokesh v. SEC, No. 16-529, slip op. at 5 (U.S. June 5, 2017) (Sotomayor, J.), held that disgorgement, as it is applied […]

Arbitration Case Law Investors

Qualified Immunity for NASD

Federal Court Finds Immunity for NASD Staff and State Investigators Tretiak v. Del Papa, No. 00-17248, 2001 U.S. App. LEXIS 24738 (9th Cir., 11/13/01). Enforcement Practice/Procedure – Privileges & Immunities (Absolute Immunity; Qualified Immunity) – Representation Issues – Timeliness Issues (Statutes of Limitations). Regulators have qualified immunity against claims based […]

Arbitration Case Law

Manifest Disregard of the Law Again

Failure to Provide Citations in Award Explanation Is Not Evidence of Manifest Disregard of the Law BUNZL DISTRIBUTION v. DEWBERRY, No. 00-2325 (8th Cir., 6/11/01): Claims of manifest disregard, based upon an alleged failure to apply applicable law, will not be presumed by an omission to cite the law. The […]