Securities and Exchange Commission v. Manor Nursing Centers, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that the disgorgement remedy does not reach income derived from the ill-gotten gains because such a remedy would constitute a penalty
• concluding that the district court “appropriate[ly] exercise[d] . . . its equity powers” to appoint a trustee and noting that “we repeatedly have upheld the appointment of trustees or receivers to effectuate the purposes of the federal securities laws” (citations omitted)
• finding that the district court did not abuse its discretion by enjoining defendants who had ceased illegal activity prior to initiation of suit
• explaining that such appointment is an “appropriate exercise by the district court of its equity powers”
• stating that “[tjhere can be no abuse of discretion in framing an injunction in terms of the specific statutory provision which the court concludes has been violated”
• appointing a receiver i and ordering that the disgorged proceeds be distributed to the victims

Source: CourtListener parenthetical corpus (CC0).