[DOWNLOAD] "Securities and Exchange Commission v. Johnston" by Sixth Circuit U.S. Court of Appeals # Book PDF Kindle ePub Free

eBook details

Title: Securities and Exchange Commission v. Johnston
Author : Sixth Circuit U.S. Court of Appeals
Release Date : January 01, 1998
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 70 KB

Description

This appeal derives from a conflict over a disgorgement order. In 1994 defendant Robert Johnston signed a consent decree regarding his activities in the securities field, but he continues to contest disgorgement of his alleged "ill-gotten" gains. The district court determined that Johnstons assets in a company profit-sharing/pension plan could not be used to satisfy the disgorgement order and that it was without jurisdiction to decide the motion of the Securities and Exchange Commission ("Commission") to vacate under Fed. R. Civ. P. 60(b). SEC v. Johnston, 922 F. Supp. 1220 (E.D. Mich. 1996). We reverse the district courts decision regarding disgorgement and reinstate the disgorgement order. The district court was, however, correct in determining that it was without jurisdiction to decide the Commissions motion to vacate, and we affirm on that issue.