Approaching and Capitalizing on an SEC Whistleblower Case
Obtaining an SEC whistleblower attorney is something that is absolutely essential if you are a person that has some type of information that can expose a corrupt business. Many people have access to information that they realize is illegal, but there are few people that are willing to make the bold move to come forward with such information. This apprehension when it comes to spilling the beans is based on the fact that when someone comes forward with such information, they are literally putting their livelihood on the line. However, this scenario has drastically lost traction, as an SEC whistleblower lawyer, as well as the laws that have been put in place to protect people who want to come forward with information, provide the perfect means for a person to come forward. Some people simply want to get the monkey off their back, in the sense that they do not want to feel guilty for knowing that they are aware of illegal activity and are not saying anything and for these people, there is a golden opportunity in the making. Not only can these whistleblowers gain full anonymity and be fully protected against backlash from the companies that they are exposing, but they can receive a heft reward.
Just this summer, the second largest award was given to a whistleblower that made the decision to come forward, after retaining the representation of Jordan Thomas, who is a whistleblower attorney. A lot of people may not even know that there are these types of lawyers that specialize in these types of cases, but based on the fact that there have been so many high profile cases, many law firms are starting to hop on board and only take these cases. The reason why these types of law firms, as well as the lawyers that work for them, are the best option for any whistleblower to hire is the fact that they deal with these cases daily. Hiring a regular lawyer is not going to provide the same likely outcome of success that is probably going to be delivered by a lawyer who works these cases day in and day out, so if you are someone who knows some sort of information and would like to expose it, it is highly advisable that you seek a lawyer that specializes in these cases. This will afford you the best chance of keeping your identity safe, holding the company accountable and getting a payday as well.
The New Whistleblower Program Provides Incentive And Protection For Whisteblowers
After the economic meltdown triggered by corrupt and unethical practices in the financial industry, the United States federal government stepped in to prevent another such catastrophe from occurring. One of the actions taken by Congress was the creation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This law signed into Congress in 2010 provides monetary incentives and protection for whistlerblowers who are looking to report unethical conduct, violations of law or coverups to the Securities and Exchanges Commission.
The financial incentive of the whistleblower program of the Dodd-Frank Wall Street Reform and Consumer Protection Act includes a range of 10-30% of settlements for cases prosecuted by the SEC going directly to the whisteblower. To summarize this in other words, if a whisteblower reveals a company to be in violation of the rules set forth by the SEC, and they are get guilty, the whisteblower will receive a significant monetary percentage of that settlement. This 10-30% percent rage is for settlements that have at least a $1 million dollar settlement or more.
To give an example of the draw of the new whistleblower program, consider this. If a company is successfully sued or settles with the SEC for $10 million dollars the whistleblower could receive anywhere from $1 to $3 million dollars as part of the financial incentive program. Additionally, the whistleblower can claim additional reward money if their actions result in other successful prosecution by other government agencies. The new whistle blower program is designed to encourage whistleblowers to come forward and reveal corrupt practices by offering them significant financial compensation stepping forward.
Furthermore, the legislation of the Dodd Frank Dodd-Frank Wall Street Reform and Consumer Protection Act gives whistleblowers the protection they need to come forward. Retaliation is prohibited by both past and present employers when a whisteblower follows the guidelines of the act.
If you are a whistleblower and believe you have a case against a company, it is highly suggested that you hire at attorney to help you build a case against a former or current employer. Being represented by an attorney will allow you to report violations anonymously. An example of a great law firm that specializes in whisteblower program cases is Labaton Sucharaow. This law firm was a pioneer in establishing a litigation team dedicated to processing whistleblower cases. A whole team of forensic accountants, investigators and prosecutors will work to help you prove that violations were indeed committed in court. The firm will also help you to claim a reward from any settlements that occur. Consultations at Labaton Sucharow are free and confidential so whistleblowers have nothing to lose.
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