News

SCOTUS and the Statute of Limitations in SEC Enforcement Actions

09.25.12

On Tuesday September 25, 2012 the U.S. Supreme Court agreed to consider an appeal by fund manager Marc Gabelli, who accused the U.S. Securities and Exchange Commission of waiting too long to bring a civil case accusing him of letting a client engage in so-called market timing. In U.S. Top Court to Hear Marc Gabelli Appeal in SEC Case, Thomson Reuters notes that, "The case hinges on the question of when the statute of limitations clock begins to tick." Morvillo Abramowitz Partner Robert Anello, who wrote a NYLJ article on the statute of limitations in SEC enforcement actions, is quoted in this article.