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Disgorgement |
Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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Disgorgement A repayment of ill-gotten gains that is imposed on wrongdoers by the courts. Funds that were received through illegal or unethical business transactions are disgorged, or paid back, with interest to those affected by the action. Disgorgement is a remedial civil action, rather than a punitive civil action. Notes: Individuals or companies that violate Securities and Exchange Commission regulations are typically required to pay both civil money penalties and disgorgement. Civil money penalties are punitive, while disgorgement is about paying back profits made from those actions that violated securities regulations.Disgorgement payments are not only demanded of those who violate securities regulations, however. Anyone profiting from illegal or unethical activities may be civilly required to disgorge their profits. |
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Mike Piazza, the SEC lawyer who argued the case, told Bloomberg News that the agency will seek disgorgement of Yuen's ill-gotten gains, as well as penalties. 21 million in disgorgement, pay a civil penalty of $200,000, and he was barred from association with a broker or dealer. The studios are seeking an injunction preventing the defendants from continuing the alleged misdeeds, as well as disgorgement of profits and unspecified monetary damages. |
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Disgorgement
