Ignorance of The Law
Client Alert | 1 min read | 11.11.09
In what, fortunately, is not a precedential decision, in Teknowledge Corp. v. U.S. (Nov. 3, 2009), the Federal Circuit finds that the cost of software development effort is not allocable to Government business because there is no demonstrated "benefit" to the Government. While it is not clear, based on the facts reported in the decision, that the result would be different -- and as we have reported in a prior Bullet Point about the decision of the Court of Federal Claims in the same case -- neither party apparently pointed out to either court that FAR incorporates the requirements of CAS 420, which specifically addresses the allocation issue in the case and requires a different analysis than the "benefit to the Government" rationale that the courts applied.
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
