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101	Info The first occurrence of ID menu-item-1583 was here. On line 195, column 34988 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/internet-performance-marketing-and-advertising-law/publishers/"><span class="menu-item-text">Publishers</span></a></li><li id="menu-item-1583" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
102	Error Duplicate ID menu-item-1611. On line 195, column 46974 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/spam-law-compliance-litigation-defense/"><span class="menu-item-text">SPAM Law Compliance and Litigation Defense</span></a></li><li id="menu-item-1611" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
103	Info The first occurrence of ID menu-item-1611 was here. On line 195, column 35270 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/spam-law-compliance-litigation-defense/"><span class="menu-item-text">SPAM Law Compliance and Litigation Defense</span></a></li><li id="menu-item-1611" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
104	Error Duplicate ID menu-item-1582. On line 195, column 47262 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/telecommunications-and-mobile-marketing-law/"><span class="menu-item-text">Telecommunications and Mobile Marketing Law</span></a></li><li id="menu-item-1582" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
105	Info The first occurrence of ID menu-item-1582 was here. On line 195, column 35558 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/telecommunications-and-mobile-marketing-law/"><span class="menu-item-text">Telecommunications and Mobile Marketing Law</span></a></li><li id="menu-item-1582" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
106	Error Duplicate ID menu-item-4813. On line 195, column 47581 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/nutraceutical-and-dietary-supplement-advertising-compliance/"><span class="menu-item-text">Nutraceutical and Dietary Supplement Advertising Compliance</span></a></li><li id="menu-item-4813" class="menu-item menu-item-type-custom menu-item-object-custom"><a hre
107	Info The first occurrence of ID menu-item-4813 was here. On line 195, column 35877 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/nutraceutical-and-dietary-supplement-advertising-compliance/"><span class="menu-item-text">Nutraceutical and Dietary Supplement Advertising Compliance</span></a></li><li id="menu-item-4813" class="menu-item menu-item-type-custom menu-item-object-custom"><a hre
108	Error Duplicate ID menu-item-1610. On line 195, column 47963 t-custom"><a href="https://www.hinchnewman.com/practice-areas/internet-law/ftc-and-state-attorney-general-regulatory-compliance-investigation-and-litigation-defense/"><span class="menu-item-text">Legal Regulatory Compliance Review of Pre-Sale Pages, Landing Pages and Marketing Materials</span></a></li><li id="menu-item-1610" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
109	Info The first occurrence of ID menu-item-1610 was here. On line 195, column 36259 t-custom"><a href="https://www.hinchnewman.com/practice-areas/internet-law/ftc-and-state-attorney-general-regulatory-compliance-investigation-and-litigation-defense/"><span class="menu-item-text">Legal Regulatory Compliance Review of Pre-Sale Pages, Landing Pages and Marketing Materials</span></a></li><li id="menu-item-1610" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
110	Error Duplicate ID menu-item-4818. On line 195, column 48272 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/sweepstakes-and-promotions-law/"><span class="menu-item-text">Sweepstakes and Promotions Law</span></a></li></ul></li><li id="menu-item-4818" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children pp-has-submenu"><div c
111	Info The first occurrence of ID menu-item-4818 was here. On line 195, column 36568 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/sweepstakes-and-promotions-law/"><span class="menu-item-text">Sweepstakes and Promotions Law</span></a></li></ul></li><li id="menu-item-4818" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children pp-has-submenu"><div c
112	Error Duplicate ID menu-item-1593. On line 195, column 48690 -submenu"><div class="pp-has-submenu-container"><a href="https://www.hinchnewman.com/commercial-litigation-law-firm/"><span class="menu-item-text">Full-Service Litigation<span class="pp-menu-toggle" tabindex="0" aria-expanded="false" aria-label="Full-Service Litigation: submenu" role="button"></span></span></a></div><ul class="sub-menu"><li id="menu-item-1593" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
113	Info The first occurrence of ID menu-item-1593 was here. On line 195, column 36986 -submenu"><div class="pp-has-submenu-container"><a href="https://www.hinchnewman.com/commercial-litigation-law-firm/"><span class="menu-item-text">Full-Service Litigation<span class="pp-menu-toggle" tabindex="0" aria-expanded="false" aria-label="Full-Service Litigation: submenu" role="button"></span></span></a></div><ul class="sub-menu"><li id="menu-item-1593" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
114	Error Duplicate ID menu-item-1615. On line 195, column 48980 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/internet-and-advertising-law-litigation/"><span class="menu-item-text">Internet Marketing and Advertising Law Litigation</span></a></li><li id="menu-item-1615" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
115	Info The first occurrence of ID menu-item-1615 was here. On line 195, column 37276 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/internet-and-advertising-law-litigation/"><span class="menu-item-text">Internet Marketing and Advertising Law Litigation</span></a></li><li id="menu-item-1615" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
116	Error Duplicate ID menu-item-4819. On line 195, column 49262 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/unfair-competition-and-false-advertising/"><span class="menu-item-text">Unfair Competition and False Advertising</span></a></li><li id="menu-item-4819" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
117	Info The first occurrence of ID menu-item-4819 was here. On line 195, column 37558 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/unfair-competition-and-false-advertising/"><span class="menu-item-text">Unfair Competition and False Advertising</span></a></li><li id="menu-item-4819" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
118	Error Duplicate ID menu-item-1609. On line 195, column 49528 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/online-intellectual-property-law/"><span class="menu-item-text">Intellectual Property Litigation</span></a></li><li id="menu-item-1609" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
119	Info The first occurrence of ID menu-item-1609 was here. On line 195, column 37824 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/online-intellectual-property-law/"><span class="menu-item-text">Intellectual Property Litigation</span></a></li><li id="menu-item-1609" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
120	Error Duplicate ID menu-item-4910. On line 195, column 49773 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/subpoenas/"><span class="menu-item-text">Motion to Quash Subpoena</span></a></li></ul></li><li id="menu-item-4910" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
121	Info The first occurrence of ID menu-item-4910 was here. On line 195, column 38069 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/subpoenas/"><span class="menu-item-text">Motion to Quash Subpoena</span></a></li></ul></li><li id="menu-item-4910" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
122	Error Duplicate ID menu-item-4812. On line 195, column 50008 ect-page"><a href="https://www.hinchnewman.com/privacy-and-data-security-lawyer/"><span class="menu-item-text">Privacy and Data Security Law</span></a></li><li id="menu-item-4812" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
123	Info The first occurrence of ID menu-item-4812 was here. On line 195, column 38304 ect-page"><a href="https://www.hinchnewman.com/privacy-and-data-security-lawyer/"><span class="menu-item-text">Privacy and Data Security Law</span></a></li><li id="menu-item-4812" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
124	Error Duplicate ID menu-item-1616. On line 195, column 50418 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/practice-areas-internet-law-new-york-city-department-of-consumer-affairs-investigation-compliance-and-defense/"><span class="menu-item-text">NYC Department of Consumer Affairs Investigations and Defense</span></a></li><li id="menu-item-1616" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children pp-has-submenu"><div c
125	Info The first occurrence of ID menu-item-1616 was here. On line 195, column 38714 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/practice-areas-internet-law-new-york-city-department-of-consumer-affairs-investigation-compliance-and-defense/"><span class="menu-item-text">NYC Department of Consumer Affairs Investigations and Defense</span></a></li><li id="menu-item-1616" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children pp-has-submenu"><div c
126	Error Duplicate ID menu-item-1590. On line 195, column 50890 -submenu"><div class="pp-has-submenu-container"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/"><span class="menu-item-text">Performance Marketing + Website Agreements<span class="pp-menu-toggle" tabindex="0" aria-expanded="false" aria-label="Performance Marketing + Website Agreements: submenu" role="button"></span></span></a></div><ul class="sub-menu"><li id="menu-item-1590" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
127	Info The first occurrence of ID menu-item-1590 was here. On line 195, column 39186 -submenu"><div class="pp-has-submenu-container"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/"><span class="menu-item-text">Performance Marketing + Website Agreements<span class="pp-menu-toggle" tabindex="0" aria-expanded="false" aria-label="Performance Marketing + Website Agreements: submenu" role="button"></span></span></a></div><ul class="sub-menu"><li id="menu-item-1590" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
128	Error Duplicate ID menu-item-1621. On line 195, column 51193 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/affiliate-marketing-and-technology-agreements/"><span class="menu-item-text">Affiliate Marketing, Technology and Commercial Contracts</span></a></li><li id="menu-item-1621" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
129	Info The first occurrence of ID menu-item-1621 was here. On line 195, column 39489 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/affiliate-marketing-and-technology-agreements/"><span class="menu-item-text">Affiliate Marketing, Technology and Commercial Contracts</span></a></li><li id="menu-item-1621" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
130	Error Duplicate ID menu-item-1629. On line 195, column 51446 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/privacy-policies/"><span class="menu-item-text">Privacy Policies</span></a></li><li id="menu-item-1629" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
131	Info The first occurrence of ID menu-item-1629 was here. On line 195, column 39742 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/privacy-policies/"><span class="menu-item-text">Privacy Policies</span></a></li><li id="menu-item-1629" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
132	Error Duplicate ID menu-item-1607. On line 195, column 51707 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/terms-and-conditions/"><span class="menu-item-text">Terms and Conditions</span></a></li><li id="menu-item-1607" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
133	Info The first occurrence of ID menu-item-1607 was here. On line 195, column 40003 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/terms-and-conditions/"><span class="menu-item-text">Terms and Conditions</span></a></li><li id="menu-item-1607" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
134	Error Duplicate ID menu-item-1591. On line 195, column 52084 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/trade-secret-agreements-confidentiality-non-compete-social-media-policies/"><span class="menu-item-text">Trade Secret Litigation and Confidentiality Agreements</span></a></li></ul></li><li id="menu-item-1591" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children pp-has-submenu"><div c
135	Info The first occurrence of ID menu-item-1591 was here. On line 195, column 40380 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/trade-secret-agreements-confidentiality-non-compete-social-media-policies/"><span class="menu-item-text">Trade Secret Litigation and Confidentiality Agreements</span></a></li></ul></li><li id="menu-item-1591" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children pp-has-submenu"><div c
136	Error Duplicate ID menu-item-1596. On line 195, column 52550 -submenu"><div class="pp-has-submenu-container"><a href="https://www.hinchnewman.com/practice-areas/internet-law/online-intellectual-property-law/"><span class="menu-item-text">Online Intellectual Property Law<span class="pp-menu-toggle" tabindex="0" aria-expanded="false" aria-label="Online Intellectual Property Law: submenu" role="button"></span></span></a></div><ul class="sub-menu"><li id="menu-item-1596" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
137	Info The first occurrence of ID menu-item-1596 was here. On line 195, column 40846 -submenu"><div class="pp-has-submenu-container"><a href="https://www.hinchnewman.com/practice-areas/internet-law/online-intellectual-property-law/"><span class="menu-item-text">Online Intellectual Property Law<span class="pp-menu-toggle" tabindex="0" aria-expanded="false" aria-label="Online Intellectual Property Law: submenu" role="button"></span></span></a></div><ul class="sub-menu"><li id="menu-item-1596" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
138	Error Duplicate ID menu-item-1600. On line 195, column 52848 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/internet-copyright-registration-and-infringement/"><span class="menu-item-text">Internet Copyright Registration and Infringement</span></a></li><li id="menu-item-1600" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
139	Info The first occurrence of ID menu-item-1600 was here. On line 195, column 41144 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/internet-copyright-registration-and-infringement/"><span class="menu-item-text">Internet Copyright Registration and Infringement</span></a></li><li id="menu-item-1600" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
140	Error Duplicate ID menu-item-1626. On line 195, column 53179 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/online-intellectual-property-law/internet-trademark-registration-and-infringement/"><span class="menu-item-text">Internet Trademark Registration and Infringement</span></a></li><li id="menu-item-1626" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
141	Info The first occurrence of ID menu-item-1626 was here. On line 195, column 41475 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/online-intellectual-property-law/internet-trademark-registration-and-infringement/"><span class="menu-item-text">Internet Trademark Registration and Infringement</span></a></li><li id="menu-item-1626" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
142	Error Duplicate ID menu-item-1618. On line 195, column 53490 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/dmca-notices-and-counter-notification-letters/"><span class="menu-item-text">DMCA Notices and Counter-Notification Letters</span></a></li><li id="menu-item-1618" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
143	Info The first occurrence of ID menu-item-1618 was here. On line 195, column 41786 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/dmca-notices-and-counter-notification-letters/"><span class="menu-item-text">DMCA Notices and Counter-Notification Letters</span></a></li><li id="menu-item-1618" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
144	Error Duplicate ID sidebar-menu. On line 195, column 59518 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/online-intellectual-property-law/domain-names-disputes-cybersquatting/"><span class="menu-item-text">Domain Name Disputes (Cybersquatting)</span></a></li></ul></li></ul></nav></div></div></div></div></div></div></div></aside></div><div class="fl-col-group fl-node-5befb76368e3e" data-node="5befb76368e3e"><div class="fl-col fl-node-5befb76368e7d" data-node="5befb76368e7d"><div class="fl-col-content fl-node-content"><div class="fl-module fl-module-html fl-node-5befb763690ea" data-node="5befb763690ea"><div class="fl-module-content fl-node-content"><div class="fl-html"> Posted in <a href="https://www.hinchnewman.com/consumer-protection/" rel="tag" class="consumer-protection">Consumer Protection</a>, <a href="https://www.hinchnewman.com/enforcement-trends/" rel="tag" class="enforcement-trends">Enforcement Trends</a>, <a href="https://www.hinchnewman.com/featured-internet-law-blog-posts/" rel="tag" class="featured-internet-law-blog-posts">Featured Posts</a>, <a href="https://www.hinchnewman.com/federal-trade-commission/" rel="tag" class="federal-trade-commission">Federal Trade Commission (FTC)</a>, <a href="https://www.hinchnewman.com/internet-law/" rel="tag" class="internet-law">Internet Law</a>, <a href="https://www.hinchnewman.com/lead-generation/" rel="tag" class="lead-generation">Lead Generation</a>, <a href="https://www.hinchnewman.com/litigation/" rel="tag" class="litigation">Litigation</a>, <a href="https://www.hinchnewman.com/internet-marketing-advertising/" rel="tag" class="internet-marketing-advertising">Marketing &amp; 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}" onblur="if (this.value === '') this.value='Search';" /></form></div></div></div></div><aside class="fl-module fl-module-heading fl-node-5e9f16dc5d06d fl-visible-medium fl-visible-mobile" data-node="5e9f16dc5d06d"><div class="fl-module-content fl-node-content"><h3 class="fl-heading"> <span class="fl-heading-text"><strong>Areas of Concentration</strong><hr></span></h3></div></aside><div id="sidebar-menu" class="fl-module fl-module-pp-advanced-menu fl-node-5e9f16dc5d06e fl-visible-medium fl-visible-mobile" data-node="5e9f16dc5d06e"><div c
145	Info The first occurrence of ID sidebar-menu was here. On line 195, column 30747 ect-page"><a href="https://www.hinchnewman.com/contact-us/"><span class="menu-item-text">Contact</span></a></li></ul></nav></div></div></header></div></div></div></div></div></div></header><div class="uabb-js-breakpoint" style="display: none;"></div><div id="fl-main-content" class="fl-page-content" itemprop="mainContentOfPage" role="main"><div class="fl-builder-content fl-builder-content-4385 fl-builder-global-templates-locked" data-post-id="4385"><div class="fl-row fl-row-full-width fl-row-bg-uabb_gradient fl-node-5bf1fac225877 fl-row-default-height fl-row-align-center" data-node="5bf1fac225877"><div class="fl-row-content-wrap"><div class="uabb-row-separator uabb-top-row-separator" ></div><div class="fl-row-content fl-row-fixed-width fl-node-content"><div class="fl-col-group fl-node-5bf1fac2257a0" data-node="5bf1fac2257a0"><div class="fl-col fl-node-5bf1fac2257ea" data-node="5bf1fac2257ea"><div class="fl-col-content fl-node-content"><div class="fl-module fl-module-heading fl-node-5d692aae1331c" data-node="5d692aae1331c"><div class="fl-module-content fl-node-content"><h1 class="fl-heading"> <span class="fl-heading-text">Richard Newman Authors Article for mThink on Supreme Court Limitation of Regulatory Disgorgement Remedy</span></h1></div></div></div></div></div></div></div></div><div class="fl-row fl-row-full-width fl-row-bg-photo fl-node-5befb76368df6 fl-row-default-height fl-row-align-center fl-row-bg-fixed" data-node="5befb76368df6"><div class="fl-row-content-wrap"><div class="uabb-row-separator uabb-top-row-separator" ></div><div class="fl-row-content fl-row-fixed-width fl-node-content"><div class="fl-col-group fl-node-5bf308276a41b" data-node="5bf308276a41b"><div class="fl-col fl-node-5bf308276a712" data-node="5bf308276a712"><div class="fl-col-content fl-node-content"><article class="fl-module fl-module-fl-post-content fl-node-5bf1fb7bb05fd" data-node="5bf1fb7bb05fd"><div class="fl-module-content fl-node-content"><p>FTC compliance and defense lawyer Richard B. Newman recently authored an article for mThink titled “<a href="https://mthink.com/breaking-news-supreme-court-limits-regulatory-right-to-disgorgement-in-judicial-enforcement-actions/">Supreme Court Limits Regulatory Right to Disgorgement in Judicial Enforcement Actions</a>.”</p><p>The article examines the June 2020 Supreme Court <a href="https://www.supremecourt.gov/opinions/19pdf/18-1501_8n5a.pdf">opinion</a> in <em>Liu v. Securities and Exchange Commission.  </em>The article discusses how the Court rejected the <em>Liu</em> petitioners’ argument that the SEC is not entitled to “equitable” disgorgement of profits from unlawful activity in securities litigation, but provided for deduction of legitimate expenses.</p><p>The Liu petitioners claim that the disgorgement awarded against them crosses the bounds of traditional equity practice by failing to return funds to victims, imposing joint-and-several liability, and declining to deduct business expenses from the award.</p><p>Mr.  Newman states, &#8220;[t]he opinion was authored for a virtually unanimous bench.  Justice Clarence Thomas dissented, stating that disgorgement should be unavailable as a remedy because it &#8216;is not a traditional equitable remedy.'&#8221;  &#8220;As stated by Sotomayor, a disgorgement award that does not exceed a wrongdoer’s net profits and is awarded for victims is permissible equitable relief.&#8221;</p><p>Mr. Newman notes that the opinion states that courts have generally awarded profits-based remedies against individuals or partners engaged in concerted wrongdoing, not against multiple wrongdoers under a joint-and-several liability theory.   The Court also considers the<em> Liu</em> petitioners’ equity-based argument related to the failure of the SEC to return funds to victims (instead, depositing a portion of collected funds in the Treasury).</p><p>However, the parties focused on the broad question whether any form of disgorgement may be ordered and did not fully brief these narrower questions.  Thus, the Court did not decide them.  Instead, the Court discussed principles that may guide the lower courts’ assessment of these arguments on remand.</p><p>Mr. Newman concludes that the opinion in <em>Liu</em>  could &#8220;bolster the agency’s enforcement and investigational posture with respect to its authority to obtain equitable monetary relief under Section 13(b) of the FTC Act.&#8221;  &#8220;[I]t may also embolden defendants and recipients of <a href="https://www.hinchnewman.com/faq-ftc-civil-investigative-demands-cid/">civil investigative demands (CIDs)</a> to challenge longstanding FTC remedial theories, including, but not limited to, measuring “equitable” monetary relief under Section 13(b) of the FTC Act by consumers’ loss, alone.&#8221;</p><p>Mr. Newman also comments that &#8220;if the disgorgement calculation is challenged by defendants, the FTC may conceivably argue that the entire profit of a business or undertaking results from wrongdoing, and that no equitable deductions are warranted.   The agency could also conceivably argue that a profits-based remedy is inconsistent with the equitable principles underlying the FTC Act.&#8221;</p><p>Time will tell if the FTC’s aggressive imposition of joint and several to disgorge funds from multiple defendants for profits that were only realized by others is now also vulnerable to attack.</p><p>The <a href="https://natlawreview.com/article/all-eyes-liu-supreme-court-considers-whether-to-restrict-disgorgement-regulatory">National Law Review</a> has also featured an article by Mr. Newman covering the <em>Liu </em>decision.</p><p>If you are interested in learning more about the implications of the <em>Liu </em>opinion or are the target of an FTC action, consult with an experienced FTC practice attorney that defends regulatory lawsuits and investigations.</p><p><strong>Richard B. Newman is an advertising practices attorney at Hinch Newman LLP.  </strong></p><p><em>Informational purposes only. Not legal advice. May be considered attorney advertising.</em></p></div></article></div></div><aside class="fl-col fl-node-5c081f63a4616 fl-col-small fl-col-has-cols" data-node="5c081f63a4616"><div class="fl-col-content fl-node-content"><div class="fl-module fl-module-widget fl-node-5c081f63a49e2" data-node="5c081f63a49e2"><div class="fl-module-content fl-node-content"><div class="fl-widget"><div class="widget widget_search"><form aria-label="Search" method="get" role="search" action="https://www.hinchnewman.com/" title="Type and press Enter to search."> <input aria-label="Search" type="search" class="fl-search-input form-control" name="s" placeholder="Search" value="" onfocus="if (this.value === 'Search') { this.value = ''; }" onblur="if (this.value === '') this.value='Search';" /></form></div></div></div></div><div class="fl-col-group fl-node-5c3e50be75d5b fl-col-group-nested fl-col-group-responsive-reversed" data-node="5c3e50be75d5b"><div class="fl-col fl-node-5c3e50b4aa83b fl-visible-desktop fl-visible-large fl-col-bg-photo" data-node="5c3e50b4aa83b"><div class="fl-col-content fl-node-content"><aside class="fl-module fl-module-heading fl-node-5c360966036d0 fl-visible-desktop fl-visible-large fl-visible-medium" data-node="5c360966036d0"><div class="fl-module-content fl-node-content"><h3 class="fl-heading"> <span class="fl-heading-text"><strong>Areas of Concentration</strong><hr></span></h3></div></aside><div id="sidebar-menu" class="fl-module fl-module-pp-advanced-menu fl-node-5c360966036d4 fl-visible-desktop fl-visible-large fl-visible-medium" data-node="5c360966036d4"><div c
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149	Info The first occurrence of ID menu-item-1588 was here. On line 195, column 31688 -submenu"><div class="pp-has-submenu-container"><a href="https://www.hinchnewman.com/practice-areas/internet-law/"><span class="menu-item-text">Internet Law<span class="pp-menu-toggle" tabindex="0" aria-expanded="false" aria-label="Internet Law: submenu" role="button"></span></span></a></div><ul class="sub-menu"><li id="menu-item-1588" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
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152	Error Duplicate ID menu-item-1624. On line 195, column 61011 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/internet-defamation-and-online-libel/"><span class="menu-item-text">Internet Defamation and Online Libel</span></a></li></ul></li><li id="menu-item-1624" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children pp-has-submenu"><div c
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182	Error Duplicate ID menu-item-1615. On line 195, column 66049 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/internet-and-advertising-law-litigation/"><span class="menu-item-text">Internet Marketing and Advertising Law Litigation</span></a></li><li id="menu-item-1615" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
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184	Error Duplicate ID menu-item-4819. On line 195, column 66331 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/unfair-competition-and-false-advertising/"><span class="menu-item-text">Unfair Competition and False Advertising</span></a></li><li id="menu-item-4819" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
185	Info The first occurrence of ID menu-item-4819 was here. On line 195, column 37558 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/unfair-competition-and-false-advertising/"><span class="menu-item-text">Unfair Competition and False Advertising</span></a></li><li id="menu-item-4819" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
186	Error Duplicate ID menu-item-1609. On line 195, column 66597 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/online-intellectual-property-law/"><span class="menu-item-text">Intellectual Property Litigation</span></a></li><li id="menu-item-1609" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
187	Info The first occurrence of ID menu-item-1609 was here. On line 195, column 37824 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/online-intellectual-property-law/"><span class="menu-item-text">Intellectual Property Litigation</span></a></li><li id="menu-item-1609" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
188	Error Duplicate ID menu-item-4910. On line 195, column 66842 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/subpoenas/"><span class="menu-item-text">Motion to Quash Subpoena</span></a></li></ul></li><li id="menu-item-4910" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
189	Info The first occurrence of ID menu-item-4910 was here. On line 195, column 38069 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/subpoenas/"><span class="menu-item-text">Motion to Quash Subpoena</span></a></li></ul></li><li id="menu-item-4910" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
190	Error Duplicate ID menu-item-4812. On line 195, column 67077 ect-page"><a href="https://www.hinchnewman.com/privacy-and-data-security-lawyer/"><span class="menu-item-text">Privacy and Data Security Law</span></a></li><li id="menu-item-4812" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
191	Info The first occurrence of ID menu-item-4812 was here. On line 195, column 38304 ect-page"><a href="https://www.hinchnewman.com/privacy-and-data-security-lawyer/"><span class="menu-item-text">Privacy and Data Security Law</span></a></li><li id="menu-item-4812" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
192	Error Duplicate ID menu-item-1616. On line 195, column 67487 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/practice-areas-internet-law-new-york-city-department-of-consumer-affairs-investigation-compliance-and-defense/"><span class="menu-item-text">NYC Department of Consumer Affairs Investigations and Defense</span></a></li><li id="menu-item-1616" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children pp-has-submenu"><div c
193	Info The first occurrence of ID menu-item-1616 was here. On line 195, column 38714 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/practice-areas-internet-law-new-york-city-department-of-consumer-affairs-investigation-compliance-and-defense/"><span class="menu-item-text">NYC Department of Consumer Affairs Investigations and Defense</span></a></li><li id="menu-item-1616" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children pp-has-submenu"><div c
194	Error Duplicate ID menu-item-1590. On line 195, column 67959 -submenu"><div class="pp-has-submenu-container"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/"><span class="menu-item-text">Performance Marketing + Website Agreements<span class="pp-menu-toggle" tabindex="0" aria-expanded="false" aria-label="Performance Marketing + Website Agreements: submenu" role="button"></span></span></a></div><ul class="sub-menu"><li id="menu-item-1590" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
195	Info The first occurrence of ID menu-item-1590 was here. On line 195, column 39186 -submenu"><div class="pp-has-submenu-container"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/"><span class="menu-item-text">Performance Marketing + Website Agreements<span class="pp-menu-toggle" tabindex="0" aria-expanded="false" aria-label="Performance Marketing + Website Agreements: submenu" role="button"></span></span></a></div><ul class="sub-menu"><li id="menu-item-1590" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
196	Error Duplicate ID menu-item-1621. On line 195, column 68262 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/affiliate-marketing-and-technology-agreements/"><span class="menu-item-text">Affiliate Marketing, Technology and Commercial Contracts</span></a></li><li id="menu-item-1621" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
197	Info The first occurrence of ID menu-item-1621 was here. On line 195, column 39489 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/affiliate-marketing-and-technology-agreements/"><span class="menu-item-text">Affiliate Marketing, Technology and Commercial Contracts</span></a></li><li id="menu-item-1621" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
198	Error Duplicate ID menu-item-1629. On line 195, column 68515 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/privacy-policies/"><span class="menu-item-text">Privacy Policies</span></a></li><li id="menu-item-1629" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
199	Info The first occurrence of ID menu-item-1629 was here. On line 195, column 39742 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/privacy-policies/"><span class="menu-item-text">Privacy Policies</span></a></li><li id="menu-item-1629" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre
200	Error Duplicate ID menu-item-1607. On line 195, column 68776 ect-page"><a href="https://www.hinchnewman.com/practice-areas/internet-law/website-agreements/terms-and-conditions/"><span class="menu-item-text">Terms and Conditions</span></a></li><li id="menu-item-1607" class="menu-item menu-item-type-post_type menu-item-object-page"><a hre

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