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…
The Securities and Exchange Commission (the “SEC”) announced on March 19, 2018 its largest whistleblower award: a $50 million bounty split between two whistleblowers and a $33 million award to a third whistleblower. Prior to the combined $83 million award, the SEC’s highest whistleblower award was $30 million awarded in…
An overseas tipster recently helped the SEC take down a large and long-running securities fraud at the whistleblowers former company. As per policy, the SEC would not identify the individual whistleblower or the specific securities violation they helped to uncover, but they did note the tipster worked for the company…
On November 30, 2017, the Securities and Exchange Commission announced two whistleblower awards in excess of $8 million. The bounties were awarded to 2 individual whistleblowers whose information was instrumental in the SEC investigations, and who’s continuing assistance and cooperation substantially assisted the SEC in successfully bringing the underlying enforcement…
The Whistleblower business can be very profitable for tipsters, a landmark whistleblower award of nearly $2.5 million was awarded today by the Securities and Exchange Commission. The recipient of this award was the employee of a domestic government agency. Information provided by this whistleblower was instrumental in launching a SEC…
A key component of the Dodd-Frank Act is headed to the Supreme Court for review. The court will decide if internal whistleblowers who have not yet reported potential violations to the SEC are protected under the anti-retaliation statutes of Dodd-Frank. The Supreme Court review is necessary to resolve a split…