SEC Whistleblower Program

Published on January 23,2017 by Jeffrey Haber
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Our Firm urges anyone with knowledge of federal securities law violations to become an SEC Whistleblower, and report that information today. Created through the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2017 (also referred to as the Dodd-Frank Act), any public citizen who files a claim through this program may be entitled to receive 10% – 30% of the total recovery obtained by the U.S. Securities and Exchange Commission (SEC) because of information they provided.

The Dodd-Frank Act also helped spearhead a whistleblower program for the Commodities Futures Trading Commission (“CFTC”), for which whistleblowers can report violations of the trading of commodities and on the currencies exchanges, and the Foreign Corrupt Practices Act (FCPA).

The attorneys at Bernstein Liebhard LLP are actively investigating potential SEC whistleblower claims involving violations of the federal securities laws, and are encouraging you to report any information about wrongdoing against the government or investors today. Call the Firm at (888) 992-0017 for more information.

SEC Whistleblower Rewards

In return for their disclosure to the SEC, a whistleblower may receive between 10% and 30% of the total monetary sanctions obtained by the federal agency, if the amount exceeds $1 million. According to the Dodd-Frank Act, monetary sanctions include penalties, disgorgement and interest, as well any other monies. How much is received depends on, among other things, the significance of the information disclosed to the SEC, as well as the whistleblower’s degree of assistance during the process.

SEC Whistleblowers Are Protected From Retaliation

The Dodd-Frank Act has a number of provisions in place to protect SEC whistleblowers from employer retaliation.

Through the Whistleblower SEC Program, employers are barred from:

  • Demoting
  • Discharging
  • Suspending
  • Threatening
  • Harassing; or discriminating against individuals who may have reported information on behalf of the government.

If you are retaliated against by the entity from which you reported violations of federal securities and commodities laws, you may want to consider filing a civil lawsuit in federal court.

SEC Whistleblower cases alleging retaliation seek the following:

  • Reinstatement with the same seniority status
  • Twice the amount of back pay you may be owed
  • Reimbursement for litigation costs
  • Attorneys’ fees and expert witness fees
  • Other expenses

Through the Dodd-Frank Act, the SEC may also file a federal case against your employer.

Whistleblower SEC Confidentiality Provisions: You May Remain Anonymous

Congress allows public citizens to remain anonymous in their reports of federal securities and commodity law violations, as long as they are submitted through whistleblower attorneys who are filing a claim on their behalf. Government agencies assisting in the investigation these claims, including the SEC and CFTC, are required to keep that information confidential until the reward is paid, or a public proceeding is set to take place.

Our Firm’s SEC Whistleblower Attorneys

At Bernstein Liebhard LLP, our lawyers have successfully been involved in complex securities class actions and shareholder rights litigation. The Firm has received national recognition over the years in its representation of individual and institutional investors in fraud-related claims, which has resulted in over $3 billion in recoveries on behalf of its clients and the classes they represented.  Speak with an attorney today to become an SEC whistleblower at (888) 992-0017.