The Securities and Exchange Commission announced an award of over $50 million to joint whistleblowers whose information alerted SEC staff to violations that involved highly complex transactions and would have been difficult to detect without their information.
The joint whistleblowers provided exemplary assistance to the SEC staff during the investigation, including meeting with staff numerous times and providing voluminous detailed documents. The information provided by these individuals resulted in the return of tens of millions of dollars to harmed investors.
“Today’s award is the second largest in the history of the program, reflecting the tremendous contribution of these joint whistleblowers to our ability to recover funds for harmed investors,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “The SEC has now awarded over a quarter of a billion dollars to whistleblowers in the first seven months of this fiscal year alone, demonstrating the tremendous value of whistleblowers to our enforcement program.”
Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544.
Are you a potential whistleblower? Studies have shown that whistleblowers who are represented by experienced securities attorneys have greater success than those without. The partners at Sallah Astarita & Cox, a national securities law firm, are former SEC Staff attorneys and brokerage firm lawyers, who can guide you through the process of filing a claim with the SEC, at no cost to you unless you receive an award. Call Sallah Astarita & Cox at 212-509-6544.