Will “Kokesh v. SEC” Put a Kink in the Federal Trade Commission’s Disgorgement Hose?

July 12, 2017

For decades, the Federal Trade Commission ("FTC") has sought and obtained monetary remedies as equitable "disgorgement" of ill-gotten gains.  Disgorgement amounts have exceeded a billion dollars in both antitrust and consumer protection matters and routinely total millions or tens-of-millions of dollars.

Gibson Dunn partner Sean Royall and of counsel Rich Cunningham recently published an article titled Will "Kokesh v. SEC" Put a Kink in the Federal Trade Commission’s Disgorgement Hose? in the Washington Legal Foundation’s The Legal Pulse blog.  The article assesses whether the logic of the Supreme Court’s recent decision in Kokesh v. SEC extends to the FTC with the effect that the five-year statute of limitations in 28 U.S.C. § 2462 applies to the FTC’s disgorgement authority.  Gibson Dunn previously summarized the Kokesh decision in a June 5, 2017 Client Alert available here.

Will "Kokesh v. SEC" Put a Kink in the Federal Trade Commission’s
Disgorgement Hose? (click on link)

© 2017, Washington Legal Foundation, The Legal Pulse, July 10, 2017. Reprinted with permission.

Gibson Dunn’s lawyers are available to assist in addressing any questions you may have regarding these developments.  Please contact the authors of this Client Alert, the Gibson Dunn lawyer with whom you usually work, or one of the leaders of the firm’s Antitrust and Competition or Privacy, Cybersecurity and Consumer Protection Practice Groups:

Washington, D.C.
Scott D. Hammond (202-887-3684, [email protected])
D. Jarrett Arp (202-955-8678, [email protected])
Adam Di Vincenzo (202-887-3704, [email protected])
Howard S. Hogan ( 202-887-3640, [email protected])
Joseph Kattan P.C. (202-955-8239, [email protected])
Joshua Lipton (202-955-8226, [email protected])
Cynthia Richman (202-955-8234, [email protected])
Joshua H. Soven (202-955-8503, [email protected])

New York
Alexander H. Southwell (212-351-3981, [email protected])
John A. Herfort (212-351-3832, [email protected])
Peter Sullivan (212-351-5370, [email protected])
Eric J. Stock (212-351-2301, [email protected])

Los Angeles
Daniel G. Swanson (213-229-7430, [email protected])
Debra Wong Yang (213-229-7472, [email protected])
Samuel G. Liversidge (213-229-7420, [email protected])
Jay P. Srinivasan (213-229-7296, [email protected])
Rod J. Stone (213-229-7256, [email protected])
Sarretta C. McDonough (213-229-7227, [email protected])
Eric D. Vandevelde (213-229-7186, [email protected])

San Francisco
Rachel S. Brass (415-393-8293, [email protected]) 
Trey Nicoud (415-393-8308, [email protected])

Dallas
M. Sean Royall (214-698-3256, [email protected])
Veronica S. Lewis (214-698-3320, [email protected])
Brian Robison (214-698-3370, [email protected])
Robert C. Walters (214-698-3114, [email protected])

Denver
Richard H. Cunningham (303-298-5752, [email protected])
Ryan T. Bergsieker (303-298-5774, [email protected])