( February 24, 2026, 2:08 PM EST) -- BOSTON — The First Circuit U.S. Court of Appeals found that a lower court did not abuse its discretion in ordering disgorgement and civil penalties against two employees of a securities firm and three of its investors in an enforcement action brought by the Securities and Exchange Commission for their involvement in a long-running pump-and-dump scheme, specifically finding that the SEC had provided adequate evidence to calculate the proceeds each co-conspirator received from the sales of problematic stocks....