SEC Must Recalculate Payout in Jackie Robinson Memorabilia Case

The SEC failed to account for repayments that a sports memorabilia startup already made to two investors and must recalculate the total disgorgement amount, a federal judge ruled in an enforcement case.

A jury found Collector’s Coffee Inc. and its founder Mykalai Kontilai liable in December 2023 for securities law violations related to CCI’s claim that it owned Jackie Robinson’s original professional baseball contracts. Now it’s up to the US District Court for the Southern District of New York to determine how much the ill-gotten gains amounted to, but the Securities and Exchange Commission submitted a declaration for a roughly ...