SEC v. Jasper

The SEC instituted this civil enforcement action against defendant, former CFO of a publicly-traded semiconductor company, alleging that he violated various provisions of the securities laws. Defendant subsequently appealed the district court's judgment on three grounds: (1) the district court made several evidentiary errors that required reversal; (2) the SEC's lawyers committed misconduct during the trial that required reversal; and (3) the reimbursement order pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (SOX 304), 15 U.S.C. 7243, violated his Seventh Amendment right to a jury trial in civil cases. The court found that, on appeal, defendant did not challenge his involvement in the scheme at issue in any way. He objected only to the procedures by which he was tried. Defendant, no less than anyone else, was of course entitled to be tried fairly. But, on reviewing the record, the court concluded that defendant received a full and fair civil trial in this enforcement action. A jury of his peers found against him on most counts and the district court entered judgment against him. The court affirmed. View "SEC v. Jasper" on Justia Law