# U.S. Court of Appeals for the Second Circuit

Type: court

Source: Legal & RegTech Intelligence Brief — https://getlegalbrief.com/entity/us-court-of-appeals-for-the-second-circuit
Canonical HTML page: https://getlegalbrief.com/entity/us-court-of-appeals-for-the-second-circuit

## Timeline

- **2026-06-04**: Sripetch v. SEC Decision — Supreme Court unanimously holds SEC need not prove financial losses for disgorgement.
- **2025**: Ninth Circuit Decision — Ninth Circuit rules pecuniary harm not required (154 F.4th 980).
- **2020**: Liu v. SEC — Supreme Court requires disgorgement be awarded for victims.
- **2017**: Kokesh v. SEC — Supreme Court holds disgorgement subject to five-year statute of limitations.

## Recent coverage (1 stories)

### SCOTUS Expands SEC Disgorgement: $4.1M Award Upheld Without Loss Proof
2026-06-05 00:05:17 · Sentiment: Neutral · Impact: 8/10 · Sources: 2

The Supreme Court’s June 4, 2026 decision in Sripetch v. SEC removes the pecuniary-loss requirement for disgorgement, resolving a circuit split and strengthening the Commission’s enforcement posture. The ruling directly affects how securities-fraud defendants negotiate and litigate equitable remedies. Legal practitioners must now reassess defense strategies and compliance exposure in microcap and pump-and-dump matters.
Full story: https://getlegalbrief.com/story/sripetch-sec-disgorgement-ruling-legal

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