June 5, 2017 - The article, "U.S. Supreme Court Limits Disgorgement Claims to Five Years" by Bill Maguire, Sarah Cave and Ken Katz was published in New York Law Journal.
On June 5, 2017, in a unanimous decision, the U.S. Supreme Court imposed a five-year statute of limitations on claims for disgorgement, resolving a split in the U.S. Courts of Appeals. In his petition for certiorari, Mr. Kokesh pointed to the circuit court split as well as the increasing importance of disgorgement in SEC enforcement actions: In 2015, the SEC collected $3 billion in disgorgement payments, more than twice the amount of monetary penalties collected. Petition for a Writ of Certiorari, Kokesh v. SEC, No. 16-529 (Oct. 18, 2016), 2016 WL 6124409, at *16-17.