An anonymous tip from an employee led to an internal review as well as an SEC review that ended with the award of $4.5 million in May. The unidentified employee first sent the anonymous tip to the employer, alleging “significant wrongdoing.” The company then conducted its own investigation and self-reported…
On June 3, 2019, the SEC announced that two individuals will share a $3M award after providing information that led to a successful action surrounding a securities law violation. Since they supplied this information jointly, they will each receive half of the award. The amount is 30% of the financial…
Recently, the SEC announced that it has paid a $3M award to a group of whistleblowers who provided information to the agency about an alleged securities law violation that led to an SEC investigation. While the SEC gets a fair amount of attention for these kinds of cases, it’s not…
On March 26, the SEC announced that it was going to award $37 million to a whistleblower who assisted in an enforcement action. This whistleblower provided the SEC with very important information. This situation shows how important whistleblowers are to the SEC. This investigation, and other previous investigations, would have…
On March 26, the SEC announced that it was going to award $13 million to a whistleblower who assisted in an enforcement action. This whistleblower provided the SEC with very important information which allowed the SEC to target widespread misconduct. This situation shows how important whistleblowers are to the SEC.…
On March 26, the SEC announced that it was going to award a total of $50 million to two whistleblowers who assisted in an enforcement action. They provided the SEC with very important information which allowed the SEC to take action. One whistleblower was awarded $13 million, and the other…
Trevor Murray, an ex-UBS AG analyst, is asking a New York federal judge to award him $3.2 in attorneys’ fees from a lawsuit he filed against his former employer. Murray is claiming that federal securities law requires the bank to allocate the funds to him. Murray was victorious in his…
The Securities and Exchange Commission (SEC) announced on September 24, 2018 that it has awarded nearly $4 million to an overseas whistleblower. The overseas whistleblower provided a tip that led the SEC to open an investigation. Further, the overseas whistleblower’s assistance helped the SEC bring a successful enforcement action. This…
The U.S. Commodity Futures Trading Commission announced that it has awarded more than $45 million to whistleblowers. This includes a recent $30 million award to a whistleblower, the largest single award in the program. A second whistleblower award of $70,000 is the first to be awarded to a resident of…
The Securities and Exchange Commission (the “SEC”) announced that it was awarding a whistleblower more than $2.2 million on April 5, 2018 using the “safe harbor” provision of the Securities Exchange Act of 1943. The whistleblower, a former company insider, first reported the information to another federal agency and later…