Sripetch v. SEC · ¶19

The Ninth Circuit's decision deepened a split among the Courts of Appeals. See id., at 985. While the First and Ninth Circuits have held that the SEC may obtain disgorgement without proving investors have suffered pecuniary loss, the Second Circuit has taken the opposite view. Compare SEC v. Navellier & Assoc., Inc., 108 F. 4th 19, 41, and n. 14 (CA1 2024), and 154 F. 4th, at 985, with SEC v. Govil, 86 F. 4th 89, 106 (CA2 2023). We granted certiorari to resolve that disagreement. 607 U. S. 1120 (2026).

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