SCOTUS Delivers Ruling on SEC’s Power To Claw Back Ill-Gotten Gains

when victims suffered “no measurable loss whatsoever.”

Citing cases like Raven Red Ash Coal Co. v. Ball, Gorsuch illustrated how interference with legal rights justifies restitution based on the wrongdoer’s profit.

Justice Clarence Thomas filed a concurring opinion.

The ruling builds on the Court’s 2020 Liu v. SEC decision, which required disgorgement continue reading …