The US Securities & Exchange Commission (SEC) recently awarded $1.7 million to two whistleblowers who provided critical information within 30 days via Form TCR (Tip, Complaint or Referral). Both provided their information in accordance with the new Securities and Exchange Act Rule 21F-9(e). Continue reading
In yet another tip that yielded a successful investigation, the SEC awarded $500,000 to two whistleblowers who provided cruicial information. In addition to the SEC, other law enforcement agencies were involved in stopping the continuing investor fraud.
The press release indicated that the individuals offered the agencies “substantial, ongoing assistance that focused the investigation.” The information saved the involved agents time and additional resources. There were multiple SEC actions as well as “a related action from another government agency.” Continue reading
The SEC announced yet another award to a whistleblower who helped initiate a successful enforcement action.
Jane Norberg, Chief of the SEC’s Office of the Whistleblower, stated:
“The whistleblower alerted the SEC to previously unknown conduct and thereafter provided multiple submissions, identified potential witnesses, and met with staff on several occasions. As the numerous recent awards make clear, whistleblowers like the one awarded today play an integral part in the success of the SEC’s enforcement program.” Continue reading
A senior financial analyst at The Walt Disney Company internally reported billions of dollars of alleged financial irregularities and claims that she was harassed and retaliated against for speaking out. In 2017 she filed an SEC whistleblower complaint. Now she is suing Disney.
Sandra Kuba, the plaintiff in a lawsuit against Disney, is a certified Public Accountant (CPA) who was hired as a financial analyst for Disney Financial Services in 1999. Her complaint states that “Throughout her employment, Plaintiff worked incredibly hard and consistently received positive performance reviews.” Continue reading
The Securities and Exchange Commission (SEC) alleges that GPB Capital Holdings violated whistleblower protection laws by retaliating against a whistleblower and preventing people from going to the SEC with information. Continue reading
Two whistleblowers who notified the Securities & Exchange Commission about misconduct that occurred outside of the US were rewarded by the agency today.
The SEC announced that it has awarded $5M to these two overseas whistleblowers. Their information about the misconduct supported several allegations that led to an enforcement action. Continue reading
The SEC’s Office of the Whistleblower recently awarded two individuals a total of $2.9M in payments after alerting investigators to improper conduct in two separate cases. In a press release dated February 19, 2021, the SEC announced two awards:
- The first case led to a $2.2 million whistleblower award after providing investigators with quality information that resulted in an SEC enforcement action. Because of this information, the SEC was able to thwart wrongdoing and return millions of dollars to the defrauded investors. Continue reading
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