ATTORNEY NEWSLETTER
Securities and Exchange Commission Rewards Whistleblowers
Any Securities Fraud Can Be The Basis of a Whistleblower Case
Federal Law Protects You From Employer Retaliation
Last month, the U.S. Securities and Exchange Commission (SEC) announced two whistleblower awards in connection with two separate enforcement actions.[1] Both whistleblowers provided significant information that helped the SEC shut down two fraudulent schemes preying on retail investors. In the first action, the whistleblower alerted the agency to a fraudulent scheme. The SEC awarded the whistleblower more than $277,000. In the second action, the whistleblower, a harmed investor, provided critical information that enabled the SEC staff to recover assets that were later returned to victims. The SEC awarded that whistleblower $45,000. If you have credible, original information of securities fraud in California call our California SEC whistleblower attorneys today at (415)441-8669 and we can help.
“Both whistleblowers awarded today played a crucial role in helping the Commission protect Main Street investors,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “The information provided saved the SEC time and resources in conducting the investigations and assisted the SEC in returning money to harmed investors.” The SEC has awarded over $387 million to 72 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators. No money has been taken or withheld from harmed investors to pay whistleblower awards.
Retaliation Protections
Federal law protects whistleblowers from employer retaliation for blowing the whistle on securities fraud. See 15 U.S.C. § 78u-6(h)(1); 17 CFR § 240.21F-2; Commission Rule 21F-17(a). If your employer retaliates against you in violation of the statute, you can bring an action in federal court seeking reinstatement, double back pay with interest, and attorneys’ fees and costs. 15 U.S.C. § 78u-6(h)(1)(B) and (C). Our litigators can represent you in your action for wrongful retaliation as well as in your underlying SEC whistleblower case.
Contact Us
The whistleblower attorneys at Evans Law Firm know how best to organize your information and documentation and will guide you through investigation, reporting, and discovery to trial or settlement. Our attorneys can also represent you in any action for wrongful termination or other retaliation in accordance with legal protections including SEC Commission Rule 240.21F-17. Our California whistleblower attorneys handle all types of whistleblower cases in addition to SEC cases. If you have information regarding a whistleblower/qui tam case in San Francisco or elsewhere in California involving allegations under the federal or California False Claims Acts, the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), the Bank Secrecy Act, the Internal Revenue Service Whistleblower Office, the Commodity Futures Trading Commission Whistleblower Office, the FINRA Whistleblower Office or other government agency whistleblower programs, contact Ingrid M. Evans and the California whistleblower attorneys at Evans Law Firm at (415) 441-8669, or by email at <a href=”mailto:info@evanslaw.com”>info@evanslaw.com</a>. Our attorneys also have experience with complex financial contracts and large insurance companies. We can help guide your case through filing a complaint, investigation and discovery through trial or an equitable settlement. We also handle cases involving physical and financial elder abuse, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.
[1] Evans Law Firm was not involved in either of the reported cases in any way.
