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, shammond@gibsondunn.com)
D. Jarrett Arp (202-955-8678, jarp@gibsondunn.com)
Adam Di Vincenzo (202-887-3704, adivincenzo@gibsondunn.com)
Howard S. Hogan ( 202-887-3640, hhogan@gibsondunn.com)
Joseph Kattan P.C. (202-955-8239, jkattan@gibsondunn.com)
Joshua Lipton (202-955-8226, jlipton@gibsondunn.com)
Cynthia Richman (202-955-8234, crichman@gibsondunn.com)
Joshua H. Soven (202-955-8503, jsoven@gibsondunn.com)

New York
Alexander H. Southwell (212-351-3981, asouthwell@gibsondunn.com)
John A. Herfort (212-351-3832, jherfort@gibsondunn.com)
Peter Sullivan (212-351-5370, psullivan@gibsondunn.com)
Eric J. Stock (212-351-2301, estock@gibsondunn.com)

Los Angeles
Daniel G. Swanson (213-229-7430, dswanson@gibsondunn.com)
Debra Wong Yang (213-229-7472, dwongyang@gibsondunn.com)
Samuel G. Liversidge (213-229-7420, sliversidge@gibsondunn.com)
Jay P. Srinivasan (213-229-7296, jsrinivasan@gibsondunn.com)
Rod J. Stone (213-229-7256, rstone@gibsondunn.com)
Sarretta C. McDonough (213-229-7227, smcdonough@gibsondunn.com)
Eric D. Vandevelde (213-229-7186, evandevelde@gibsondunn.com)

San Francisco
Rachel S. Brass (415-393-8293, rbrass@gibsondunn.com
Trey Nicoud (415-393-8308, tnicoud@gibsondunn.com)

M. Sean Royall (214-698-3256, sroyall@gibsondunn.com)
Veronica S. Lewis (214-698-3320, vlewis@gibsondunn.com)
Brian Robison (214-698-3370, brobison@gibsondunn.com)
Robert C. Walters (214-698-3114, rwalters@gibsondunn.com)

Richard H. Cunningham (303-298-5752, rhcunningham@gibsondunn.com)
Ryan T. Bergsieker (303-298-5774, rbergsieker@gibsondunn.com)

© 2017 Gibson, Dunn & Crutcher LLP

Attorney Advertising: The enclosed materials have been prepared for general informational purposes only and are not intended as legal advice.