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Supreme Court rules SEC can recoup money in fraud cases
Court Watch |
2020/06/23 16:45
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The Supreme Court on Monday preserved an important tool used by securities regulators to recoup ill-gotten gains in fraud cases.
By an 8-1 vote, the justices ruled that the Securities and Exchange Commission can seek to recover the money through a process called disgorgement. Last year, the SEC obtained $3.2 billion in repayment of profits from people who have been found to violate securities law.
“The Court holds today that a disgorgement award that does not exceed a wrongdoer’s net profits and is awarded for victims is equitable relief permissible" under federal law, Justice Sonia Sotomayor wrote for the court.
Justice Clarence Thomas dissented. The Supreme Court in 2017 unanimously limited the SEC’s ability to go after profits where alleged fraud has been going on for years before authorities file charges. That case left open the question the high court answered Monday, that courts have the authority to order disgorgement of profits. The SEC has continued to aggressively pursue defendants’ profits in fraud cases.
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New Mexico high court rules on privacy for banking records
Court News |
2020/06/20 10:08
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Prosecutors can obtain a person’s banking records using a warrantless grand jury subpoena without violating the individual’s right to privacy under New Mexico’s Constitution, the state Supreme Court has ruled.
In a unanimous decision Thursday, the justices concluded that a district court properly allowed the use of five years of personal financial records as evidence in a pending criminal case against a Taos couple facing charges of tax evasion and other finance-related offenses.
The high court rejected the married couple’s argument that the state’s Constitution provided greater privacy protections for their financial records than offered under the U.S. Constitution’s Fourth Amendment, which prohibits unreasonable searches and seizures. The couple contended that a court-authorized warrant should have been required to obtain bank records.
The justices adhered to a decadesold legal doctrine established by the U.S. Supreme Court that people have no constitutionally protected privacy interest in the financial account records they voluntarily share with third parties. |
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What Supreme Court? Trump's HHS pushes LGBT health rollback
Court News |
2020/06/17 10:09
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The Trump administration Friday moved forward with a rule that rolls back health care protections for transgender people, even as the Supreme Court barred sex discrimination against LGBT individuals on the job.
The rule from the Department of Health and Human Services was published in the Federal Register, the official record of the executive branch, with an effective date of Aug. 18. That will set off a barrage of lawsuits from gay rights and women's groups. It also signals to religious and social conservatives in President Donald Trump's political base that the administration remains committed to their causes as the president pursues his reelection.
The Trump administration rule would overturn Obama-era sex discrimination protections for transgender people in health care.
Strikingly similar to the underlying issues in the job discrimination case before the Supreme Court, the Trump health care rule rests on the idea that sex is determined by biology. The Obama version relied on a broader understanding shaped by a person's inner sense of being male, female, neither, or a combination.
Writing for the majority in this week's 6-3 decision, Justice Neil Gorsuch said, "An employer who fires an individual for being homosexual or transgender fires that person for traits or actions it would not have questioned in members of a different sex. |
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Court rejects Trump bid to end young immigrants’ protections
Legal Interview |
2020/06/15 10:10
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The Supreme Court on Thursday rejected President Donald Trump’s effort to end legal protections for 650,000 young immigrants, the second stunning election-season rebuke from the court in a week after its ruling that it’s illegal to fire people because they’re gay or transgender.
Immigrants who are part of the 8-year-old Deferred Action for Childhood Arrivals Program will retain their protection from deportation and their authorization to work in the United States ? safe almost certainly at least through the November election, immigration experts said.
The 5-4 outcome, in which Chief Justice John Roberts and the four liberal justices were in the majority, seems certain to elevate the issue in Trump’s campaign, given the anti-immigrant rhetoric of his first presidential run in 2016 and immigration restrictions his administration has imposed since then.
The justices said the administration did not take the proper steps to end DACA, rejecting arguments that the program is illegal and that courts have no role to play in reviewing the decision to end it. The program covers people who have been in the United States since they were children and are in the country illegally. In some cases, they have no memory of any home other than the U.S. |
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UConn student fugitive in court on murder charge, police say
Court Watch |
2020/06/13 10:22
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A University of Connecticut student, who police say used a machete to kill a man, fatally shot a high school acquaintance, and then spent six days as a fugitive, will be arraigned Friday on murder and other charges, authorities said.
Peter Manfredonia, 23, will be arraigned in Rockville Superior Court in the May 22 death of Ted DeMers in nearby Willington, Connecticut, Trooper Josue Dorelus said at a news briefing.
It was not clear whether Manfredonia has an attorney who could comment on his behalf about the charges. Manfredonia is accused of killing DeMers, 62, and seriously wounding another man in the machete attack.
Two days later, police say, Manfredonia stole a truck and guns and fatally shot high school acquaintance Nicholas Eisele, 23, in Derby, Connecticut. He is being held on a $5 million bond. He is charged with murder, criminal attempt to commit murder, assault, home invasion, kidnapping with a firearm, robbery, larceny, stealing a firearm and assault on an elderly person.
State police said further charges will be filed in Eisele's death and the kidnapping of Eisele's girlfriend, who was later found unharmed in New Jersey.
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