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Alignment is each justice's general judicial philosophy as commonly described, not a party. Justices don't belong to parties, and they don't always vote with their bloc.
No. 25-466 · October Term 2025
May the SEC seek equitable disgorgement under 15 U.S.C. §§ 78u(d)(5) and (d)(7) without showing investors suffered pecuniary harm?
From at least 2013 to 2019, Ongkaruck Sripetch participated in a series of fraudulent securities schemes involving at least 20 microcap, or “penny,” stock companies. Working alongside various associates and through multiple entities, Sripetch acquired discounted shares of small-cap companies and then secretly funded promotional campaigns to inflate their stock prices before selling his own holdings into the artificially heightened market—a practice known as stock scalping. He also engaged in unregistered sales of securities, most notably through control of a company called Abby Inc., and manipulated trading in another company, VMS Rehab Systems, through matched trades and wash trades designed to create the illusion of market activity. Later, he organized pump-and-dump schemes for Argus Worldwide stock, using matched trading to build trading volume before dumping shares after promotions without disclosing his intent to sell. In 2020, the U.S. Securities and Exchange Commission (SEC) filed a civil enforcement action against Sripetch and others. In 2023, Sripetch consented to a bifurcated judgment, agreeing to the SEC’s allegations for the purposes of remedies. The U.S. District…
From Oyez.
Majority: Neil M. Gorsuch, Clarence Thomas, John G. Roberts, Samuel A. Alito, Sonia Sotomayor, Elena Kagan, Brett M. Kavanaugh, Amy Coney Barrett, Ketanji Brown Jackson