On June 5, 2017, the Supreme Court of the United States decided Kokesh v. SEC, No. 16-529, holding that disgorgement claims must be commenced within five years of the claims’ accrual because such claims operate as penalties.
Earlier this month, a yearlong fight between the Federal Trade Commission and Charles Francis Gugliuzza ended with a ruling that the FTC’s $18 million judgment against Mr. Gugliuzza was not dischargeable in bankruptcy. The original judgment arose out of the online sale of Online Auction Starter Kits for consumers who were interested in selling on eBay. A […]