Disgorgement


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Disgorgement

Stolen money that must be repaid to victims of theft, fraud, or some other financial crime. That is, when a person or business has made profits through illegal or unethical means, it must pay disgorgement plus interest to all victims in so far as it is possible. This is done to attempt to restore the status quo before the illegal or unethical actions were committed. The perpetrator must pay disgorgement over and above any punitive damages that have been assessed.
References in periodicals archive ?
the SEC to order disgorgement in administrative proceedings and
The issues are especially difficult because in many cases, even if plaintiffs seek disgorgement or restitution, they often also allege other theories of recovery, and because many cases settle without any determination or acknowledgement that the settlement payment represents disgorgement of ill-gotten gain.
performance ($15,000); and (4) disgorgement, whereby the court orders S
The five had been ordered to pay disgorgements and civil penalties totaling $2.
In addition to paying disgorgement, each company has agreed to retain an independent monitor for three years.
The, civil lawsuit seeks antifraud injunctions, civil money penalties, disgorgement of ill-gotten gains (including salaries, bonuses and commissions) and permanent bars from service as an officer or director of a public company.
It sought injunctions, disgorgement of all fees and civil money penalties.
The DOL rules amplify new ERISA Sections 101 (i) and 502(c)(7), as added by Sarbanes-Oxley Act of 2002 (SOA) Section 306(b), and are separate from Securities Exchange Act of 1934 changes made by SOA Section 306(a) for executive disgorgement of profits during blackout periods.
The disgorgement amount will be disbursed in two ways.
In his July 10, 2014 decision, Judge Czygier noted that "prior decisions issued warnings to counsel, specifically, Moritt Hock & Hamroff, LLP, of the possibility of disgorgement.
The SEBI proposed that administrative steps be initiated for the redistribution of the disgorgement amount that had been collected from perpetrators of the scam.
Zaman, Vaghar, and Sameer Khoury have offered to settle to full injunctive relief and disgorgement, and Zaman has agreed to be permanently barred from associating with any broker or dealer.