Whistleblowers from all walks of life are breaking their silence and reporting a wide variety of significant securities violations to the SEC.
In 2010, Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act, the most sweeping overhaul of U.S. financial regulation since the Great Depression. Among its many important reforms, the Dodd-Frank Act established a new whistleblower program that provides significant employment protections and financial incentives for individuals to report possible violations of the federal securities laws to the Securities and Exchange Commission (SEC).
In response to this historic legislation, Labaton Sucharow was the first law firm in the country to establish a practice exclusively focused on protecting and advocating for SEC whistleblowers. Building on the Firm’s market-leading securities litigation platform, our Whistleblower Representation Practice leverages a world-class in-house team of investigators, financial analysts, and forensic accountants with federal and state law enforcement experience to provide unparalleled representation for whistleblowers. The practice is led by Jordan A. Thomas, a former Assistant Director and Assistant Chief Litigation Counsel in the Division of Enforcement at the SEC. During his tenure at the SEC, Jordan played a leadership role in the development of the Whistleblower Program, including drafting the proposed legislation and final implementing rules.
Under the rules of the program, the SEC is required to pay eligible whistleblowers 10-30% of the monetary sanctions collected as a result of a successful SEC enforcement action or actions in which the sanctions exceed $1 million. If this threshold is met, whistleblowers may also be eligible for additional awards based upon the monetary sanctions collected in related actions brought by other regulatory and law enforcement organizations. The Dodd-Frank Act also prohibits retaliation by employers against whistleblowers who report to the SEC pursuant to the program rules. Importantly, whistleblowers may report possible securities violations anonymously if represented by an attorney.
To learn more about the SEC Whistleblower Program or to request a case evaluation, contact our Whistleblower Representation Team in any number of ways—by telephone, email, or electronic submission through this website. All initial consultations and case evaluations are free, confidential and protected by the attorney-client privilege. During any initial consultation, although it is strongly encouraged, individuals are not required to provide personal identifying information or the names of possible securities violators. For international whistleblowers, translation services are available upon request.