Law firms across the country have their specialties but only one specializes in SEC whistleblowers and helping with their claims. Labaton Sucharow, LLP is the first of its kind. This law firm is a SEC whistleblower lawyer firm and they are setting the margins high. Labaton Sucharow has been in business for over 50 years. They are the first law firm to specialize in being a voice for whistleblowers and helping them prove their cases. They have a full team ready and experienced. Learn more: http://www.thinkadvisor.com/2016/06/09/sec-pays-out-17m-whistleblower-award
One of their clients just recently won a sum of $17 million awarded by the SEC. This payment is the second largest of its kind. Due to provisions set forth by the SEC, the client has chosen to remain anonymous for fear of any backlash that may possibly come.
With the help of Labaton Sucharow and their SEC whistleblower attorney, the anonymous client was able to come forward with their information. For this case to go anywhere, this information needed to be relevant and be able to help prove the case. Coming forward as a whistleblower is not an easy feat. It takes evidence as well as courage to present a rock solid case against those who are doing wrong.
A whistleblower is defined as a person who, on their own, comes forward with information about possible SEC violations. These violations can be currently happening, have already happened or are about to happen. A whistleblower can only be an individual. It cannot be a company or an organization providing the information.
The SEC understands there is a need for whistleblowers and the information they can provide. The SEC Whistleblower program is a recent program that was launched on July 21, 2010, with the passing of Dodd-Frank. The program’s purpose is to provide the whistleblower with financial compensation for the information they provide.
The financial industry is a highly competitive industry. Everyone involved wants to find a way to get ahead and some choose to do it through means that are out of bounds. These practices are highly illegal and are usually only discovered with the help of a whistleblower. Whistleblowers risk a lot by coming forward but by doing so, they help strengthen the integrity of the SEC and the financial industry as a whole.