Kokesh v. SEC

Decided June 5, 2017. Sonia Sotomayor delivered the opinion of the Court.

Docket 16-529 · 581 U.S. 455 (2017) · Cited 39 times

Holding

Because SEC disgorgement operates as a penalty under § 2462, any claim for disgorgement in an SEC enforcement action must be commenced within fve years of the date the claim accrued.

The Court’s statement of the holding, from the opinion’s syllabus. The syllabus is prepared by the Reporter of Decisions and is not part of the opinion of the Court — read the official opinion for authority.

How the Justices voted

Decided 9–0.

“Concurring” means agreeing with the outcome; any split shown is the Court’s judgment, not each Justice’s reasoning. Source: the Supreme Court Database (Spaeth et al.), Washington University.

Precedents cited

Supreme Court decisions this opinion relies on, ordered by how often it cites each. Cases in our collection link through; others are named.

• Brady v. Daly · 175 U.S. 148 (1899)
• Gabelli v. Securities & Exchange Commission · 568 U.S. 442 (2013)
• Huntington v. Attrill · 146 U.S. 657 (1892)
• Meeker & Co. v. Lehigh Valley RR · 236 U.S. 412 (1915)
• Austin v. United States · 509 U.S. 602 (1993)
• Bell v. Wolfish · 441 U.S. 520 (1979)
• United States v. Bajakajian · 524 U.S. 321 (1998)
• Porter v. Warner Holding Co. · 328 U.S. 395 (1946)
• Securities & Exchange Commission v. Capital Gains Research Bureau, Inc. · 375 U.S. 180 (1963)
• Blue Chip Stamps v. Manor Drug Stores · 421 U.S. 723 (1975)
• United States v. Detroit Timber & Lumber Co. · 200 U.S. 321 (1906)
• Securities & Exchange Commission v. Jerry T. O'Brien, Inc. · 467 U.S. 735 (1984)

Cited by

Later Supreme Court opinions in our collection that cite this case.

• SEC v. Jarkesy · 603 U.S. 109 (2024)
• Liu v. SEC. & Exch. Comm'n · 591 U.S. 71 (2020)

Explore from here

Sonia Sotomayor’s profile · All Supreme Court opinions · The Supreme Court

Source: Supreme Court of the United States, slip opinions (2017). Citation count from the Free Law Project’s CourtListener bulk data. Data last verified 2026-07-03. Informational only; verify against the primary source before relying. Not a consumer report (FCRA).