Agrees to pay a penalty equal to three times his unlawful profits to settle charges Introduction The SEC filed a complaint against Charles Rustin Holzer, a former broker and family office executive. This comes after Holzer settled charges by the SEC last year related to his trading in options of […]
Tag: Disgorgement
Former Pharmaceutical Global IT Manager Settles SEC $8 Million Insider Trading Case, Criminal Case Still Pending
The Securities and Exchange Commission today announced insider trading charges against Dayakar R. Mallu, of Orlando, Florida, who generated gains and avoided losses totaling over $8 million by trading in the securities of his former employer, Mylan N.V., ahead of four public announcements between Oct. 3, 2017, and July 29, […]
Five-Year Statute Applies to Claims for Disgorgement
The Supreme Court ruled [June 5, 2017] that claims for disgorgement brought by the SEC are governed by a five-year statute of limitations. The Court’s unanimous opinion in Kokesh v. SEC, No. 16-529, slip op. at 5 (U.S. June 5, 2017) (Sotomayor, J.), held that disgorgement, as it is applied […]