Labaton Sucharow Advocates for SEC Whistleblower

The Congress enacted Dodd-Frank’s Wall Street Reform and Consumer Protection Act in 2010. It is the most significant overhaul of the financial regulations in the United States post the Great Depression. The Dodd-Frank Act established a whistle-blower program aimed at providing protection on employments and other financial incentives. It allows individuals to report cases of possible violations of the federal securities laws. The cases are reported to the Securities and Exchange Commission (SEC).

Labaton Sucharow, in response to the enactment of the new law, became the first law firm in the country to set up a practice that focused exclusively on advocating and protecting the SEC whistle-blowers. The firm uses the market-leading litigation platform and builds on it to provide representation for the whistle-blowers. Their representatives are from an in-house team that composes of investigators, forensic accountants, and financial analysts who have experience with the law enforcement and federal agencies. They provide the whistle-blowers unparalleled representation at the legal platforms.

Jordan A. Thomas heads this practice. He was an Assistant Chief Litigation Counsel and Assistant Director in the Division of Enforcement at the Securities and Exchange Commission. While serving at these posts, Jordan played the role of a leader in the development of the Whistle-blowers Program. He took part in drafting the legislation, and the final rules of implementation of the law.

The rule states that the whistle-blower is eligible to be paid between 10 to 30 percent of the monetary transactions, or actions in which sanctions go beyond $1 million. Even after the threshold has been met, the whistle-blowers are still eligible for additional awards that rely on the monetary sanctions, for actions relating to the same claims brought forward by other law enforcement organizations and whistle-blowers. Retaliation by the employers reported by the whistle-blowers is prohibited. A good thing about the Act is that the whistle-blower may seek anonymity when reporting the complaints if they have attorney representation.

To send a request for a case evaluation, or to get to know more about the SEC Whistleblower Program, the firm’s Whistleblower lawyers can be contacted through either email, telephone or submissions through the firm’s website. The initial case evaluations and the consultations are conducted free of charge. Though strongly encouraged, when one is going for the initial consultations, they are not required to provide their personal information that could identify them, or the identities of the possible securities violators. Translation services are also available when requested, for International Whistle-blowers.