Supreme Court Issues Unanimous Decisions on Securities and Patent Law

On June 4, 2026, the U.S. Supreme Court released two unanimous opinions addressing technical legal questions in securities enforcement and patent law.

In Sripetch v. Securities and Exchange Commission, the Court held that the SEC is not required to prove investor losses to obtain disgorgement in civil enforcement actions for securities fraud. This decision clarifies the SEC's authority to strip wrongdoers of ill-gotten gains, focusing on the deterrence of fraudulent activities.

In Hikma Pharmaceuticals USA Inc. v. Amarin Pharma, Inc., the Court ruled that a generic drug manufacturer did not induce patent infringement by marketing a drug for unpatented uses, even when the drug could potentially be prescribed for patented indications. This decision provides guidance on the scope of liability for generic manufacturers and the interpretation of inducement under patent law.

Both decisions, while technical, have significant implications for securities regulation and patent litigation, reinforcing the Court's role in clarifying complex legal issues.