The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Wed, 24 Jun 2026 20:59:29 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Supreme Court: SEC May Seek Disgorgement of Profits Without Proving Investor Loss – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Supreme Court: SEC May Seek Disgorgement of Profits Without Proving Investor Loss https://corpgov.law.harvard.edu/2026/06/20/supreme-court-sec-may-seek-disgorgement-of-profits-without-proving-investor-loss/?utm_source=rss&utm_medium=rss&utm_campaign=supreme-court-sec-may-seek-disgorgement-of-profits-without-proving-investor-loss https://corpgov.law.harvard.edu/2026/06/20/supreme-court-sec-may-seek-disgorgement-of-profits-without-proving-investor-loss/#respond Sat, 20 Jun 2026 11:30:52 +0000 https://corpgov.law.harvard.edu/?p=181981?d=20260618163815EDT Posted by Nekia Hackworth, Sarah Levine, and David Peavler, Jones Day, on Saturday, June 20, 2026
Editor's Note:

Nekia Hackworth, Sarah Levine, and David Peavler are Partners at Jones Day. This post is based on a Jones Day memorandum by Ms. Hackworth, Ms. Levine, Mr. Peavler, Laura Pruitt, and Evan Singer.

The Supreme Court’s unanimous decision resolves a significant question regarding the SEC’s disgorgement authority, foreclosing defendants from contesting disgorgement awards based on the absence of investor financial harm.

On June 4, 2026, the Supreme Court unanimously held in Sripetch v. Securities and Exchange Commission that the SEC need not prove that investors suffered pecuniary loss before obtaining disgorgement through an enforcement action in federal court.

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