The PR news wire announced that the SEC (Securities & Exchange Commission) presented its second largest award to a whistle-blower represented by the Labaton Sucharow law firm. After collecting the penalty fees, the SEC gave the brave insider over 17 million dollars for the insider’s help in the investigation and conviction of the guilty parties. The whistle-blower provided pertinent information against a financial agent or agency that proved his/their culpability. Then the SEC determined violations were committed. SEC whistleblower Attorney Jordan A. Thomas took pride in the whistle-blower’s character and integrity and anticipates many more awards to be presented by the SEC. The SEC program protects the whistle-blower’s identity, reputation, and livelihood by not releasing the case name or the whistle-blower’s name. If the whistle-blower’s information results in sanctions, he or she will receive a sizable payment from 10 percent up to 30 percent of the sanctions levied against the financial agent or institution. The Labaton Sucharow law firm’s only mission is to represent and defend whistle-blowers. This law firm houses a team of experts that investigate, analyze, and compute information received by the client to prove the credibility of the client’s information.
Thanks to the Dodd-Frank act of 2010, whistle-blowers who participate in the SEC Whistleblower Program will be effectively protected from those agents or agencies who mishandle their relationships with investors. This program, supported by SEC approved whistle-blower lawyers, guards the confidentiality of the whistle-blower’s identity, shields the whistle-blower from a vengeful employer’s unfair practices, and compensates the whistle-blower with a cash reward.
This protection program acts as a transparent safe house for the whistle-blower. The new 21 F section of the Exchange Act establishes that any harmful act by the employer that would adversely affect the status or position of the whistle-blower’s employment is deemed illegal. In other words, the employer will break the law if the employer fires, places on unpaid leave, bumps to a lower paid position, or socially ostracizes the employee. Furthermore, the employer cannot exact retribution even if the employee participates in the investigation of the violations, testifies in court, or refuses to assist the employer in perpetrating more violations.