SEC to Whistleblowers: Report Promptly and Expect a Minimal Award if You are Culpable
The SEC awarded a reduced award because of the delay in reporting.
The SEC awarded more than $1.5 million to a whistleblower. That amount was greatly smaller than what would have been awarded because the whistleblower delayed their reporting and culpability in the violation. This reduction in the award sends important messages to whistleblowers. This white paper reviews those messages and the importance of reporting immediately.
Jason Zuckerman litigates whistleblower retaliation and rewards, wrongful discharge, and other employment-related claims, and authors the Whistleblower Protection Law Blog. His broad experience includes serving as Senior Legal Advisor to the Special Counsel at the U.S. Office of Special Counsel, the federal agency charged with protecting whistleblowers in the federal government. In 2012, the Secretary of Labor appointed Zuckerman to serve on the Whistleblower Protection Advisory Committee, which makes recommendations to the Secretary of Labor to improve OSHA’s administration of federal whistleblower protections.
Matthew Stock is an associate at Zuckerman Law, where his practice focuses on representing whistleblowers in whistleblower rewards and whistleblower retaliation cases. Mr. Stock has audited a broad range of industries, both domestically and internationally, including large public companies and financial institutions. He uses his auditing experience to help IRS, CFTC and SEC whistleblowers investigate and disclose complex financial frauds to the government.
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