The SEC suffered a significant defeat when a court ruled that it lacked subject matter jurisdiction to consider an enforcement action because the statute of limitations had run.
Tag: statute of limitations
This Week In Securities Litigation (Week ending March 1, 2013)
The Supreme Court handed down two significant securities law decisions this week. In the first the High Court, in unanimous opinion, rejected the contention of the SEC that the five year statute of limitations for seeking a penalty can be …
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Tagged with: financial fraud, Insider trading, investment fund fraud, secactions, statute of limitations