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Team Resources Incorporated, et al. v. Securities and Exchange Commission

Paid petition · United States Court of Appeals for the Fifth Circuit, No. 18-10931 · judgment November 5, 2019

GVR'd · July 2, 2020
Pre-decision estimate: 4% cert probability

Before the decision, roughly the 4.1% base rate. The model weighted this up for a Fifth Circuit decision below, a petition filed soon after the judgment below, and a petition citing one or two dissents.

Question presented

Whether the Securities and Exchange Commission may obtain disgorgement from a federal court as an equitable remedy for securities violations despite this Court’s determination that disgorgement is a penalty.

Counsel of record

For petitioner
Phillip J. DeRosier
Dickinson Wright PLLC

For respondent
Noel John Francisco
Jones Day

Case

Subject area
Economic Activity (estimated from the questions presented, in the Supreme Court Database’s categories)

Conference history
Distributed for 3 conferences

Order
Order list, July 2, 2020 · Summary disposition

Proceedings

  1. Aug 03 2020
    JUDGMENT ISSUED.
  2. Jul 02 2020
    Petition GRANTED. Judgment VACATED and case REMANDED for further consideration in light of Liu v. SEC, 591 U. S. ___ (2020).
  3. Jun 29 2020
    DISTRIBUTED for Conference of 7/1/2020.
  4. Jun 22 2020
    DISTRIBUTED for Conference of 6/25/2020.
  5. Mar 25 2020
    DISTRIBUTED for Conference of 4/17/2020.
  6. Mar 05 2020
    Brief of respondent Securities and Exchange Commission in opposition filed.
  7. Feb 03 2020
    Petition for a writ of certiorari filed. (Response due March 5, 2020)