On Time Means On Time
Client Alert | less than 1 min read | 11.09.06
Late is late, even if only by 2 minutes, according to the GAO in Omega Systems, Inc. (Nov. 6, 2006, http://www.gao.gov/decisions/bidpro/298767.pdf), denying a protest challenging the Marine Corps' refusal to consider an offeror's late final proposal revision. Although the protester claimed its late proposal revision was acceptable because it was a modification to an "otherwise successful proposal that makes its terms more favorable to the government," the GAO held that an otherwise successful proposal is one that "would result in the award of the contract to the offeror regardless of the late modification," and here the protester's price without the revision was too high to win.
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
