United States DC Circuit

The SEC's order imposing sanctions on defendant is vacated where the district court applied an incorrect "should have known" negligence standard instead of the correct scienter standard which showed the evidence to be insufficient to sustain the sanctions against defendant.

Appellate Information

• Argued 01/22/2004
• Decided 07/30/2004
• Published 07/30/2004

Judges

• Before:  HENDERSON, RANDOLPH, and ROGERS, Circuit Judges.

Court

• United States DC Circuit

Counsel

• For Appellant:
  
• Paul Gonson argued the cause for petitioner.   With him on the briefs were Charles R. Mills, David S. Versfelt, and Mary T. Ambron.


• For Appellees:
  
• Randall W. Quinn, Assistant General Counsel, Securities and Exchange Commission, argued the cause for respondent.   With him on the brief were Giovanni P. Prezioso, General Counsel, Meyer Eisenberg, Deputy General Counsel, Jacob H. Stillman, Solicitor, and Rada Lynn Potts, Senior Litigation Counsel.