PARTY GAMES: THE SUPREME COURT'S 21ST CENTURY JURISPRUDENCE BY TELEPHONE

This Article focuses on a recent Supreme Court decision dealing with the ability of the Securities and Exchange Commission to seek disgorgement of unlawfully obtained profits as a type of equitable remedy permitted by statute. In that decision, Liu v. SEC, the Court continued to exhibit an unfortunate penchant demonstrated in a precursor case- Kokesh v. SEC. This is a predilection for jurisprudence by soundbite-the functional equivalent of Googling its own precedents for pithy quotes taken out of context from inapt cases. The results are, to put it politely, much like what you would expect from a rousing game of telephone.