The U.S. Securities and Exchange Commission has announced an award of over $6 million to joint whistleblowers whose assistance led to “multiple successful government actions” against individuals engaged in misconduct. Whistleblowers who know of securities law violations and help to bring a successful action against liable parties may be entitled to compensation.
National securities and investment fraud law firm, Levin Law, P.A., represents SEC whistleblowers who have original information that leads to a successful action against individuals or entities who have violated the federal securities laws. Contact managing partner Brian Levin at (305) 402-9050 or via email at firstname.lastname@example.org for a free consultation.
The U.S. Securities and Exchange Commission (SEC) established the Office of the Whistleblower to help administer awards to individuals who know of possible securities law violations and assist in enforcement actions.
When individuals come forward with “high-quality original information that leads to a Commission enforcement action” where over $1 million in sanctions are ordered, the individual may be entitled to compensation. Whistleblower awards are between 10% and 30% of the money collected and are paid out of the investor protection fund established by Congress.
Since 2012, the SEC has awarded around $728 million to whistleblowers. In the first two months of this year alone, the SEC awarded over $160 million to twelve individuals. In the instant case, joint whistleblowers were awarded over $6 million for their “substantial assistance,” which led to successful enforcement actions by the SEC.
According to the December press release, the whistleblowers’ information included “submitting documents, participating in interviews, and identifying key individuals involved in the misconduct.” The assistance of the individuals helped to government actions against several people involved in an elaborate scheme. The fraud resulted in “tens of millions of dollars in ill-gotten gains.”
If you believe that you have information that would help the Securities and Exchange Commission prosecute those who have violated the federal securities laws, contact Levin Law, P.A. for a free case evaluation. Most cases are handled on a contingency-fee basis, meaning you are not responsible for Levin Law attorney fees unless money is recovered on your behalf.
Levin Law is a premier national securities and class action law firm with significant experience. Brian Levin, Levin Law’s founding attorney, has helped recover in excess of $100,000,000 through securities arbitration and litigation for individual and institutional investors throughout the country and the rest of the world. Levin Law represents retirees, individual investors, high-net-worth investors, ultra-high-net-worth investors, institutions, family offices, trusts, publicly held companies, and others.