Category : Corporate Ethics

Labaton Sucharow’s Client Receives The Second Largest SEC Whistleblower Award

In June 2016, Labaton Sucharow announced that the Security Exchange Commission (SEC) had awarded their client over $17 million. This is because the client (whistleblower) had exposed a possible major violation in the financial service industry. It is now close to six years after the whistleblower program came into existence. This prize money is regarded as the second largest to be issued by the SEC to a whistleblower. The whistleblower provided accurate information against a major figure in the financial markets. Because of his actions, the SEC managed to recover huge amounts of money that would have otherwise been embezzled.

The client chose to report the case anonymously through Jordan A. Thomas, a SEC whistleblower lawyer. This way, the whistleblower was able to avoid blacklisting and retaliation. Jordan Thomas, the Chair of the Labaton Sucharow’s Whistleblower Representation, applauded his client’s boldness to bring out such crucial information. He stated that in future, SEC would handle more of such cases from courageous whistleblowers. Jordan added that the present case was the beginning of many others to come.  In addition, he represented the first case where the SEC charged an employer for attempting to retaliate against a whistleblower.

The enactment of the Dodd-Frank Act in 2010 brought many reforms. It created a whistleblower program that sought to protect employment and financial incentives. The Act enabled individuals to report any violations regarding the federal securities laws to the SEC.  The Congress established an Investor Protection Fund to ensure there are adequate funds to pay awards to eligible whistleblowers. Labaton Sucharow was the first law firm to administer the whistleblower program by protecting and advocating for SEC whistleblowers.

For over 50 years, Labaton Sucharow LLP has been representing institutional investors, individuals and businesses in business litigation and complex litigation regarding securities. The law firm has been successful because of its team of qualified employees. Its whistleblower representation practice entails a first-class in-house group of investigators and forensic accountants who are highly experienced in matters of law enforcement. The firm’s financial analysts play a significant role in the entire process of whistleblower representation. The entity’s culture of excellence has seen it emerge as one of the leading law firms based on its rankings by The National Law Journal’s Plaintiff’s Hot List, Chambers & Partners, the Benchmark Litigation and the Legal 500. This information was originally reported on PRNewswire as explained in the following link http://www.prnewswire.com/news-releases/second-largest-sec-whistleblower-award-granted-to-labaton-sucharow-client-300282555.html


Labaton Sucharow Helps Whistleblowers

There are a lot of people who want to come to the SEC with information about wrongdoing at their companies, but they have not had the kinds of protections that they are getting now. Labaton Sucharow has been helping people with their needs, and they are the first firm in the country that just does this kind of work. They are trying to make sure that the people that they are working are going to have a way to get what they deserve under the law while also making sure that they can get the case to happen as fast as possible.

Changes to Dodd Frank have made it possible for every whistleblower to get a portion of what they recover in a settlement, and then the law firm will help them while they are going to be testifying for the government. That makes it much easier for people to get the help they need, and they do not have to get into the legalese of the case. They have lawyers at Labaton Sucharow to do this for them, and they are also in a place where they will be able to make changes to their lifestyle based on what they learn from their lawyers. There are a lot of people who are going to be in need of help that happens immediately, and it is very important for these people to make sure that they can get a lawyer in their corner when they do not know what could happen next.

The whistleblowers will receive a payment from the government, but their lawyer at Labaton Sucharow will make sure that they have handled all those parts of the case for their clients. Their clients will get the best service possible, and they will get results from the lawyers instead of trying to do this on their own. This means that all the people who are testifying can get a new job if they need one, and they will be safe as long as their lawyer from Labaton Sucharow is helping them.

Learn more about SEC Whistleblower attorneys