In the past year you may have seen news headlines such as “SEC awards whistleblower $4M” and “SEC awards $22 million to ex-Monsanto executive through whistleblower program.” Since it’s effective date in 2011 the Whistleblower Program has resulted in the U.S.Securities and Exchange Commission (SEC) paying out close to $111 million to whistleblowers. While the news has begun reporting more frequently on whistleblower payouts, in general employees are not familiar with the Whistleblower Program.
The Whistleblower Program is the result of legislation passed in 2010 called the Dodd-Frank Wall Street Reform and Consumer Protection Act. Through this legislation the Whistleblower Program protects whistleblowers from retaliation from their employer, provides anonymous reporting, and offers financial incentives. As you’ve heard in the news the monetary reward can be substantial. Currently a whistleblower is eligible to receive 10-30% of the monetary sanctions collected as a result of a SEC enforcement.
If you’re currently employed and see your company commit fraud, whether it is with a small business or Fortune 500 company, you can utilize the Whistleblower Program. In the past employees have feared retaliation from their company for whistleblowing. In the Whistleblower Program whistleblowers can make their report of possible securities violations anonymously. However, to do so anonymously requires legal representation and that’s where a SEC Whistleblower attorney from SEC Whistleblower Advocate Labaton Sucharow can help.
In order to keep your anonymity a SEC Whistleblower lawyer will verify your identity and then advocate on your behalf with SEC. During investigations and possible enforcement action your name will never be known to SEC.
You may wonder why you should choose SEC Whistleblower Advocate Labton Sucharow to represent you. Along with having a successful practice for nearly half a century, Labaton Sucharow was the first law firm to create a Whistleblower Representation Team in response to the creation of the SEC Whistleblower Program. In addition the practice is led by Jordan A. Thomas who formally worked as Assistant Director and Assistant Chief Litigation Counsel at SEC. Labaton Sucharow’s Whistleblower Representation Team has in-depth knowledge of the Whistleblower Program and expertise and experience in federal and local law enforcement.