As a leading law firm, Labaton Sucharow has for a long time worked with clients to help them present their cases about securities violations. The company is working with their SEC Whistleblower attorney Jordan Thomas to see that all the cases presented by clients are handled professionally to help them get their deserving compensation for exposing securities violations to the SEC.
The SEC recently announced the second largest payout they ever gave to a whistleblower since inception in 2010 and it came as good news since the whistleblower was a Labaton Sucharow client. The law firm has made notable strides in the industry by first establishing a body that reviews the case to ensure the concerns presented are valid and would not amount to wastage of time at the courts.
According to Jordan A. Thomas, also the head of the Whistleblower Representation Program at Labaton Sucharow, the client was brave since the kind of information he exposed was crucial and many other people in the industry with the details could not share because of fear of exposing the investors and seniors. This is not the only case Labaton Sucharow has handled in the past since they have been working with whistleblowers since the SEC Whistleblower Program was incepted in 2010.
SEC Whistleblower Program
As a part of the 2010 amendment to the Consumer Protection Act, the Dodd-Frank provisions led to the introduction of several bodies that are tasked with championing the fight against securities violations. One such body is the SEC Whistleblower Program, which made it possible for whistleblowers to share information about securities violations from any part of the world. Through the program, thousands have presented their cases and have shared information that has helped to streamline the business world.
There are several provisions that came with the birth of the SEC Whistleblower Program and one of them is the introduction of the international whistleblower provision. This means one with information about securities violations can share regardless of the jurisdiction from which the individual comes. Through this provision, more than 11 percent of the cases reported in 2011 were from other countries.
Also a factor that has motivated whistleblowers to share information is the presence of the whistleblower protection. A whistleblower is protected from any kind of intimidation or getting fired when he/she reports about securities violations perpetrated by their employer. Having these changes in place has motivated more people to report wrong doings in different industries.