The SEC’s practice of recovering funds obtained through fraud without first having to prove investors lost any money will avoid a closer look from the US Supreme Court.
The justices on Friday denied a petition asking them to review a ruling from the US Court of Appeals for the First Circuit last July upholding an order that required investment firm Navellier & Associates Inc. to disgorge $22.7 million in profits made from allegedly misleading clients on an investment strategy’s track record.
The First Circuit’s ruling conflicts directly with a 2020 Supreme Court decision holding that the Securities and Exchange Commission …