Sima Saran Ahuja | Bloomberg LawSEC v. Sherwin P. Brown, No.10-02479, 2011 BL 263720 (8th Cir. Oct. 13, 2011) With one judge dissenting in part, the U.S. Court of Appeals for the Eighth Circuit affirmed the district court's grant of summary judgment to the Securities and Exchange Commission (SEC) in a civil enforcement action alleging that an investment adviser's President induced clients to invest with him through fraudulent misrepresentations. The Eighth Circuit also affirmed an order for disgorgement of funds together with injunctive relief.
Defendants Diverted Funds
District Court Orders Disgorgement
Interrogatory Response Not Sufficient to Resist Summary Judgment
Eighth Circuit Affirms Disgorgement Order
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