Whistleblower Insights and Developments
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SEC awards $500,000 to overseas whistleblower
On July 23, the SEC announced a $500,000 award to an overseas whistleblower whose “expeditious reporting” on an important witness assisted the Commission in bringing a successful enforcement action. The SEC’s order noted that the whistleblower’s tip was the first information that the Commission...
In The NewsSEC defends whistleblower award delay in foreign bribery case
On July 11, the SEC responded to a petition asking the U.S. Court of Appeals for the District of Columbia to compel a whistleblower award determination from the agency. In April 2017, the “John Doe” petitioner had applied for an SEC whistleblower award, claiming that beginning in May 2011 and...
In The NewsCFTC awards a reduced $2.5 million to whistleblower after reporting delay
On June 24, the Commodity Futures Trading Commission (CFTC) announced a whistleblower award of approximately $2.5 million to an individual who reported information that led to a successful enforcement action. The CFTC noted that the award was reduced because of the individual’s unreasonable delay...
In The NewsSEC awards $3 million to joint whistleblowers
On June 3, the SEC announced awards totaling $3 million to two whistleblowers for jointly volunteering information that led to a successful enforcement action involving an alleged securities law violation that impacted retail investors. The SEC noted that the whistleblowers “undertook significant...
In The NewsSEC awards $4.5 million in first-ever internal reporting whistleblower action
On May 24, the SEC announced a $4.5 million award to a whistleblower who reported concerns internally to his or her company and also to the SEC within 120 days of reporting to the company. This marked the first time the SEC issued an award to a claimant under the provision of the whistleblower...
In The News10th Circuit: Compliance employees must show they went beyond established protocols to obtain FCA whistleblower retaliation protection
On April 30, the U.S. Court of Appeals for the 10th Circuit affirmed the dismissal of a former employee’s False Claims Act (FCA) whistleblower retaliation claims, holding that employees with compliance responsibilities bear the burden of showing that their alleged protected activities are not...
In The NewsSupreme Court holds FCA relators have 10 years to bring nonintervened suit
On May 13, the U.S. Supreme Court unanimously held that a relator has up to 10 years to bring a qui tam suit under the False Claims Act (FCA) whether or not the government intervenes in the suit. According to the opinion, in November 2013, a relator brought a suit against two defense contractors...
In The NewsNinth Circuit denies rehearing in Wadler FCPA whistleblower retaliation case
On April 8, the Ninth Circuit denied a petition to rehear its February order affirming most of the jury’s award – $8 million of the original $11 million – in a landmark FCPA whistleblower-retaliation case . The court denied the life sciences manufacturing company’s petition without explanation. For...
In The NewsSEC issues $50 million whistleblower award; third-highest ever
On March 26, the SEC announced awards totaling $50 million to two whistleblowers for volunteering information that led to a successful enforcement action, with one whistleblower receiving $37 million (the third-highest SEC award to date) and the other receiving $13 million. While details of the...
In The News9th Circuit issues opinion in Wadler, remands for possible new trial
On February 26, 2019, the Ninth Circuit issued a long-awaited opinion in a case involving a life sciences manufacturing company and its former General Counsel. The 23-page opinion , slated for publication, takes a mixed view of the trial outcome, vacating in part, affirming in part, and remanding...
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