Divided Federal Circuit Disallows Recovery Of Interest As Damages
Client Alert | less than 1 min read | 10.14.04
Under the "a rose is a rose by any other name" theory, Judge Dyk for the majority in England v. Contel Advanced Systems, Inc. (Oct. 6, 2004) found the ASBCA had improperly granted interest as damages to the contractor when the Navy breached its obligation to reduce the contract price and so the contractor had had to borrow an inflated amount in order to perform. Judge Newman in dissent pointed out that the "no interest" rule dictated by sovereign immunity applies only when interest is requested on other damages, not when the basic damage itself is payment of interest.
Insights
Client Alert | 6 min read | 06.09.26
Is Stock-a-palooza Over? Supreme Court allows SEC to Pursue Disgorgement
On June 4, 2026, the U.S. Supreme Court unanimously held that the U.S. Securities and Exchange Commission (SEC) can continue to pursue disgorgement as an equitable remedy in securities fraud cases without showing pecuniary loss by investors. The Court’s ruling in Sripetch v. SEC resolves a split between the U.S. Court of Appeals for the Second Circuit, which concluded that the SEC must demonstrate pecuniary loss, and the U.S. Courts of Appeals for the First and Ninth Circuits, which declined to require such a showing.
Client Alert | 2 min read | 06.09.26
Client Alert | 7 min read | 06.09.26
Client Alert | 11 min read | 06.08.26
