Disgorgement Accounting After Liu v. SEC in Securities Enforcement Cases

From the Harvard Law School Forum on Corporate Governance - The Supreme Court’s landmark Liu v. SEC ruling curtails the SEC’s discretion in disgorgement remedies, limiting awards to a defendant’s “net profits” from wrongdoing. This shifts billions in settlement negotiations. But how should securities lawyers calculate these “net profits” in the wake of Liu? https://corpgov.law.harvard.edu/2023/08/30/disgorgement-accounting-after-liu-v-sec-in-securities-enforcement-cases/