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Partner Dr. Alexandra G. Maier Recognized Again in Lexology Client Choice Award 2025, Mining Experts Category 2025
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Event 23 Oct. 2024
Counsel Mohannad El Murtadi Suleiman to Speak at the 2nd Annual Africa Arbitration Day in New York
Event 18 Aug. 2023
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Client Alert 28 Dec. 2023
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Publications 19 Dec. 2024
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Client Alert 10 Jul. 2024
EU Adopts New Restrictive Measures Against Belarus
Client Alert 26 Jun. 2024
The EU Adopts its 14th Sanctions Package Against Russia
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Juan Jorge speaks at UM Arbitration Day 2025
News 11 Dec. 2012
An article by Curtis Litigation partner Eliot Lauer, counsel Jason Gottlieb, and associate Ellen Tobin, entitled, 'The Past Is Never Dead,' was published in the December 10, 2012 National Law Journal on page 30 and on the web.
The article analyzes the Second Circuit's decision in S.E.C. v. Gabelli, which is being reviewed by the Supreme Court this term, in particular the Second Circuit's holding that 28 U.S.C. § 2462, the federal law stating that administrative agencies have five years from 'the date when the claim first accrued' to commence any action seeking civil penalties, includes a 'discovery rule' giving the S.E.C. five years to initiate an action from the date the S.E.C. first discovered the alleged wrongdoing, not when the wrongdoing actually occurred.
The authors write that the ramifications of the Supreme Court's decision may be far broader than just S.E.C. actions. Absent specific Congressional guidance, Section 2462 also applies to other administrative agencies with significant regulatory authority, such as the Internal Revenue Service in bringing actions against tax professionals; the Environmental Protection Agency in bringing actions under the Clean Air Act or the Clean Water Act; the Federal Trade Commission in certain actions; and many others. A Supreme Court ruling that sides with the S.E.C. could unleash an avalanche of unintended consequences, and allow federal agencies to pursue conduct that has long past.