Two Whistleblowers Awarded $875,000 by the SEC

On June 3rd, the Securities and Exchange Commission awarded more than $875,000, to be split evenly, to two whistleblowers that provided high-quality tips and assistance resulting in an enforcement action in a complex area of the securities market.

The Dodd-Frank Act authorized the SEC’s whistleblower program which awards 10 to 30 percent of the money collected in cases resulting in sanctions exceeding $1 million.

The SEC cannot disclose a whistleblower’s identity.

Since late 2011, the SEC’s whistleblower program has awarded eight individuals for assistance in bringing successful enforcement action.

For more information, click here.

Contact one of our

Experienced Attorneys

If you are aware of any person, corporation or entity that you think may be violating the Federal False Claims Act or a State False Claims Act, contact us today.