Defendant-appellant Ratilal K. Patel appeals from a judgment entered in the United States District Court for the Southern District of New York (Patterson, J.) in an action brought against him by plaintiff-appellee Securities and Exchange Commission ("SEC") for violations of federal securities laws. The judgment permanently enjoins Patel from future violations, orders him to disgorge $453,203 in illegal profits plus prejudgment interest and bars him from serving as an officer or director of any public company. On appeal, Patel contends that the district court erred in calculating the "avoided losses" that it ordered him to disgorge. He also contends that the district court considered improper factors in barring him permanently from serving as an officer or director of any public company.
Miner '56, Roger J., "SEC v. Patel, 61 F. 3d 137 - Court of Appeals, 2nd Circuit 1995" (1995). Circuit Court Opinions. 343.