United States Second Circuit

Judgment that defendants were liable for securities fraud, order of disgorgement, and a civil penalty imposed jointly and severally on defendants are: 1) affirmed in part, as to the district court's determination of liability, its disgorgement award, and the decision to impose joint and several liability for the disgorgement amount; but 2) reversed as to the imposition of joint and several liability for the civil penalty; and 3) vacated in part and remanded as to the civil penalty, in light of Gabelli v. SEC, 133 S. Ct. 1216 (2013).

Appellate Information

• Decided 08/08/2013
• Published 08/08/2013

Judges

• WALKER

Court

• United States Second Circuit

Counsel