Scott Silver, Silver Law Group’s managing partner and publisher of www.secwhistleblowerlawyers.net, represented an SEC whistleblower in a $1.8 million award for providing critical information that helped the SEC recover millions of dollars for investors.
On January 1st, 2021, Congress voted to amend the Securities and Exchange Act of 1934 (Exchange Act), enacting into law the following provisions:
- The Securities and Exchange Commission (SEC) now has statutory authority to seek disgorgement in civil enforcement actions in federal district court;
- The statute of limitations in certain SEC actions is now tolled while defendants are outside of the United States; and
- The statute of limitations for scienter-based claims is now ten years, double the previous limitations period of five.
On December 1, 2020, the Securities and Exchange Commission (SEC) announced that two whistleblowers had been awarded over $6 million for providing information and assistance that led to a successful enforcement action.
The SEC’s press release called the whistleblowers’ assistance substantial and stated that they provided it to the SEC and another government agency. Their assistance included providing documents, taking part in interviews, and identifying individuals involved in the misconduct. Continue reading
On December 14, 2020, the Securities and Exchange Commission (SEC) announced that it was awarding $300,000 to one whistleblower “whose high-quality information and continuing assistance significantly contributed to a successful enforcement action.”
The Securities and Exchange Commission (SEC) announced that whistleblower awards totaling almost $3M had been paid to five people who provided information to the commission that led to three different enforcement actions.
Orders Determining Whistleblower Claim
The first order awarded $1.8 million to one whistleblower who “provided information that would have been difficult to detect in the absence of the tip and provided extraordinary assistance to SEC staff resulting in the return of the money to investors.” Scott Silver, Silver Law Group’s managing partner which publishes this site, represented this whistleblower and helped him submit his tip years ago. Continue reading
Our attorneys are investigating Northstar Financial Services (Bermuda) regarding possible misconduct related to their various investment and insurance products and the broker-dealers who sold them. If you have information regarding any misconduct or violations of securities laws, or if you are a victim investor, our attorneys are interested in speaking with you.
Among the investments offered by Northstar are: Continue reading
On November 5, 2020, the SEC (Securities and Exchange Commission) put out a press release announcing that two separate whistleblowers were awarded a total of $4.3 million.
The Commission awarded over $3.6 million to one whistleblower for “providing important information that alerted the Commission to misconduct abroad.” The release states that the whistleblower provided “substantial and ongoing assistance to enforcement staff, which included traveling to another country at the whistleblower’s own expense to meet with staff in person and providing extensive supporting documentation.” Continue reading
A whistleblower complaint was filed in Miami-Dade Circuit Court, which accuses the nonprofit organization Shake-A-Leg Miami of tax law violations, Florida law and Fair Labor Standards violations, and county ordinance violations.
The complaint was filed by Jason Krieger, who was employed as the chief operating officer of Shake-A-Leg Miami starting in January, 2020. Continue reading
On October 29, 2020, the SEC (Securities and Exchange Commission) announced that it had awarded more than $10M to a whistleblower who provided original information that prompted an investigation.
A press release on the award stated that the whistleblower provided “substantial, ongoing assistance to SEC staff throughout the investigation.” The release notes that the whistleblower communicated with SEC staff over 12 times and, in addition to providing evidence, also helped the SEC understand communications and complex issues. Continue reading
The Securities and Exchange Commission (SEC) announced that it has awarded over $1.1 million to a whistleblower whose “independent analysis led the staff to look at new conduct during an ongoing investigation.”
Analysts, researchers and individuals who conduct their own independent analysis of publicly available information and identify violations of the securities laws may submit SEC whistleblower claims despite not having any inside or private information not generally available to the public. Continue reading