SEC Awards Whistleblowers Over $2 Million
Along with Dodd-Frank, the SEC Whistleblower Program allows qualified whistleblowers to be entitled to 10-30 percent of funds recovered by the government due to information provided to assist the SEC. These established regulatory frameworks also provide anti-retaliation protections to the Whistleblower, awarding double back pay and uncapped damages for retaliatory termination. In this most recent case, the Whistleblower had previously given the SEC information which allowed further related investigations by the SEC and the DOJ.
Managing Partner of Warren Law Group, Christopher Warren states, “The most recent award on October 29th makes it clear that the SEC amendments to the Whistleblower rules demonstrate that Whistleblowers are not only rewarded for their contribution to a successful SEC enforcement action but also for recovery in related actions. To prevail in a retaliatory claim and be protected from termination, certain legal procedures must be followed exactly. ”
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