Paul Weiss discusses Florida Court’s Dismissal of SEC Case Following Gabelli

In SEC v. Graham, 2014 WL 1891418 (S.D. Fla. May 12, 2014) (King, J.), a Florida district court held that SEC claims for injunctive relief, declaratory relief and disgorgement are subject to the same five-year statute of limitations as claims for civil monetary penalties. The court’s reasoning was based, in large part, on the Supreme Court’s analysis of that statute of limitations last year in Gabelli v. SEC, 133 S. Ct. 1216 (2013).

Background

28 U.S.C. § 2462 (“Section 2462”) provides that “[e]xcept as otherwise provided by Act of Congress, an action, suit or proceeding for the enforcement … Read more