Their achievements include the latest awarding of their client by the SEC Whistleblower Program. The client received more than $17 million for sharing information about the violations that have prevailed in the financial services industry for many years. As Labaton Sucharow SEC Whistleblower Attorney Jordan Thomas cites, this is one of the cases where witnesses fear to present information to the SEC because it involves influential individuals.
However, this Labaton Sucharow client was brave enough to come out and through the support of the law firm, his case was able to earn the second best amount since the SEC Whistleblower Program was started in 2010.
There are still many cases pending at the Labaton Sucharow desks concerning securities laws violations and the firm has promised great service that will ensure the clients get assistance to pursue the issues seamlessly to completion. They are optimistic about the achievement of this kind of success in more of their clients and in curbing the violation of securities violations.
Learn about the SEC Whistleblower Program
The SEC Whistleblower Program is a product of the effort that was applied by the federal government to help curb the violation of securities laws. In 2010, the Consumer Protection Act was reviewed and several amendments made to allow better reporting capabilities among whistleblowers. Through this amendment, several bodies were formed, one of them being the SEC Whistleblower Program, which has been championing the fight against wrong doings in various industries.
Introducing the SEC Whistleblower Program came as a relief to many issues that were ailing the business world. It opened up avenues through which whistleblowers could use to share information about the violation of securities laws. One of the notable provisions that have motivated many to report violations is the fact that whistleblowers are entitled to compensation amounting to at least 10 percent of the sanction collected from the offender.
There is also a protection package that entails allowing whistleblowers to report anonymously and also ensures an employer cannot in any way intimidate an employee who reports violations to the SEC.