Contorting The Law Of Disgorgement In Contorinis: Disgorging

Mar 6, 2014 · The line between classic disgorgement and punitive penalties now appears to be blurring. Last month, in SEC v. Contorinis, a divided panel of the U.S. Court of Appeals for the Second Circuit ...

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SEC V. Contorinis, No. 12-1723 (2d Cir. 2014) - Justia Law

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Feb 18, 2014 · In a superseding judgment of February 29, 2012, the district court reaffirmed those penalties, and furthermore ordered Contorinis to pay $2,485,205 in prejudgment interest on …

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V. (2014) | FindLaw

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Joseph Contorinis appeals from a judgment of the United States District Court for the Southern District of New York (Richard J. Sullivan, Judge ) ordering him to disgorge $7,260,604 in …

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FAQs about Contorting The Law Of Disgorgement In Contorinis: Disgorging Coupon?

How does disgorgement work?

Disgorgement serves to remedy securities law violations by depriving violators of the fruits of their illegal conduct. However, repaying the ill-gotten gains may sound similar to compensation, but it is not the same. ...

Is disgorgement a punishment?

SEBI . It stated that, in commercial terms, disgorgement is the forced giving up of profits obtained by illegal or unethical acts. It is neither a punishment nor is it concerned with the damages sustained by the victims of the unlawful conduct. ...

What is disgorgement in securities law?

A makes $100 profit by using unlawful means, the court may direct him to disgorge $100 plus interest to the court. Recovering of this amount from the wrongdoer is called “disgorgement”. Disgorgement serves to remedy securities law violations by depriving violators of the fruits of their illegal conduct ...

Is disgorgement of ill-gotten gains a punishment?

It is neither a punishment nor is it concerned with the damages sustained by the victims of the unlawful conduct. Disgorgement of ill-gotten gains may be ordered against one who has violated the securities laws/regulations but it is not every violator who could be asked to disgorge. ...

How does disgorgement differ from compensation?

Recovering of this amount from the wrongdoer is called “disgorgement”. Disgorgement serves to remedy securities law violations by depriving violators of the fruits of their illegal conduct However, repaying the ill-gotten gains may sound similar to compensation, but it is not the same. So, ...

What does disgorgement mean?

In layman’s language, disgorgement means repaying the profit made by a person using unlawful means or unethical ways. So, hypothetically, if Mr. A makes $100 profit by using unlawful means, the court may direct him to disgorge $100 plus interest to the court. Recovering of this amount from the wrongdoer is called “disgorgement”. ...