SEC Whistleblower Lawyer Blog
Once again, two SEC whistleblowers will receive bounties through the SEC’s Office of the Whistleblower, following a successful enforcement action.
The first SEC whistleblower receives $13 million after voluntarily providing information that initiated the investigation. They notified SEC staff of the firm’s “abusive practices” for several years prior to the opening of the investigation.
Some of this information led to activity that would have been otherwise hard for SEC staff to uncover. The SEC also used information from the investigation in settlement proceedings with the firm’s legal counsel.
Their assistance also helped SEC staff to understand the facts of the case. This individual provided ongoing and continuing assistance including witness identification and obtaining documentation. Through the process, the whistleblower also suffered personal hardship as a result.
The second whistleblower receives $3 million. Their assistance as a first-hand witness helped SEC staff to better understand the case. However, the second whistleblower knew about the wrongdoing and did not immediately report the information to the SEC.
The Claims Review Staff (CRS) considered the “unreasonable delay” when issuing the award to the second whistleblower. The first whistleblower submitted information several years prior to the second one. Both provided information voluntarily along with continued assistance throughout the case.
Four additional individuals who filed claims for awards were denied and did not contest the decision of the CRS.
Retaining Experienced SEC Whistleblower Attorneys
SEC whistleblowers help everyone by notifying authorities of conduct that harms the public, while also earning financial compensation for themselves. Hiring experienced SEC counsel will greatly increase your chances of the SEC initiating an investigation based on your information. If you wish to remain anonymous, you must be represented by an attorney, who will submit everything on your behalf.
Silver Law and the Law Firm of David R. Chase jointly have experienced SEC whistleblower lawyers, including a former SEC Enforcement attorney on the team, so you will always have guidance throughout the process. Our SEC whistleblower attorneys can help you if you have information regarding securities or investment fraud, violations of federal securities laws, false filings, market manipulation, or other misconduct. You must provide timely, credible, and original information or analysis in order to be eligible.
Contact us through our online form or at (800) 975-4345 for a consultation. Our attorneys work on a contingency fee basis. This means that it costs you nothing to hire us, and we collect our fees when you receive an SEC bounty. Because we get paid when you do, we have the incentive to help you collect the maximum award available.