Disgorgement is defined by Black's Law Dictionary as "the act of giving up something (such as profits illegally obtained) on demand or by legal compulsion." Disgorgement is a remedy used in U.S. securities law; for example, disgorgement of short-swing profits is the remedy prescribed by § 16(b) of the Securities Exchange Act of 1934. American Jurisprudence, Second Edition states that: In regard to Gleeson's Will (124 N.E.2d 624 (Ill. App. 1955)), disgorgement was used as a remedy when the trustee remained as a holdover on the testator's land and acquired a profit.