United States Seventh Circuit

In an action involving fraud and false accounting, district court's imposition of civil penalties and order to disgorge bonsues is affirmed where: 1) the claim for penalties was timely and did not violate the statute of limitations as the SEC had the full time from the date that the wrong came to light to make its claim; and 2) defendant cannot support his claim that the district court abuse its discretion in its management of the trial. Case is remanded for further proceedings with respect to the calculation of defendant's prior bonuses under proper accounting.

Appellate Information

• Argued 12/03/2008
• Decided 02/26/2009
• Published 02/26/2009

Judges

• EASTERBROOK, Chief Judge., Before EASTERBROOK, Chief Judge, and MANION and WOOD, Circuit Judges.

Court

• United States Seventh Circuit

Counsel

• For Appellees:
  
• John W. Avery (argued), Jacob H. Stillman, Securities and Exchange Commission, Office of the General Counsel, Washington, DC, Mary Keefe, Securities and Exchange Commission, Chicago, IL, for Plaintiff-Appellee., Sarah R. Wolff, Reed Smith LLP, Chicago, IL, Donna M. Doblick (argued), Reed Smith LLP, Pittsburgh, PA, for Defendant-Appellant.