( March 18, 2025, 10:24 AM EDT) -- WASHINGTON, D.C. — An investment officer and his investment advisory firm filed a petition for writ of certiorari, asking the U.S. Supreme Court to address questions regarding the award of disgorgement and clarity regarding materiality of alleged misrepresentations under the Investment Advisors Act of 1940. The First Circuit U.S. Court of Appeals found that the Securities and Exchange Commission adequately showed that the man and the firm recklessly and repeatedly issued misrepresentations about an investment strategy employed by the firm and affirmed a district court’s grant of summary judgment and order of disgorgement....