Not long ago, Securities and Exchange Commission (SEC) gave an award of over $17 million to a former Labaton Sucharow LLC client who disclosed significant information in the financial service sector that assisted advance an agency investigation. This amazing award represents the second largest award to be issued by SEC Whistleblower Program that was established nearly five years ago. SEC Whistleblower Program allows eligible and qualified whistleblowers to receive a fair percentage of between 10 to 30 percent of the overall monetary sanctions gathered in a very successful enforcement action. Labaton Sucharow LLC whistleblower client presented high quality information that resulted to sanctions against one of the major players within the financial markets. Not different from the other cases, the elected whistleblower has remained anonymous to avoid blacklisting and retaliation. Learn more: http://www.prnewswire.com/news-releases/second-largest-sec-whistleblower-award-granted-to-labaton-sucharow-client-300282555.html
Normally, SEC does not openly reveal specific cases where whistleblowers played a significant role in order to avoid indirectly disclosing the personal details of the whistleblower. According to Jordan A. Thomas who is the head of the prominent Labaton Sucharow’s Whistleblower Representation Practice, his client blew the whistle at the right time when the other people within the financial service industry remained silent indicating that they were content with the harm that investors were being exposed to. He added that this is just the beginning and he is positive that in the coming years more whistleblowers will courageously stand out and expose significant wrongdoings of the SEC.
Merits of Being a Courageous Whistleblower
Due to the exclusive protections and incentives given by the SEC Whistleblower Program, qualified whistleblowers such as the Labaton Sucharow client have the aptitude to report possible and significant federal securities infringements anonymously with the chance` to easily earn substantial monetary awards as well as employment protections. Congress has founded a refilling Investor Protection Fund to ensure that there are adequate funds to award courageous whistleblowers. Currently this fund has an excess balance of $400 million.
About Labaton Sucharow LLC
With a humble beginning 50 years ago, Labaton Sucharow has grown to one of the successful and premier law companies comprehensively representing institutional investors, consumers and businesses in complex litigation and securities. Labaton Sucharow was the very first firm to come up with a practice solely focused on advocating and protecting whistleblowers who courageously report significant security infringements to the SEC.
Before reporting a securities violation, it is important for one to hire an SEC whistleblower lawyer or an SEC whistleblower attorney to represent the case. Considering an attorney or a lawyer from Labaton Sucharow guarantees a whistleblower higher chances of winning over the case he or she reports to the SEC.