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SEC Issues Whistleblower Awards Totaling $3 Million

The U.S. Securities and Exchange Commission (SEC) recently issued three separate whistleblower awards totaling approximately $3 million. According to the commission, each of these awards featured whistleblowers who voluntarily provided the agency with information that led to a successful enforcement action.

  • The first case resulted in a $1.5 million award to a whistleblower who provided original information that prompted the SEC to open an investigation into alleged securities laws violations. The whistleblower continued to assist SEC investigators during the investigation.

  • The second whistleblower received over $1 million. This individual was an insider that first reported the violations internally. The disclosures made by that whistleblower to the SEC prompted the commission to open an investigation and also helped save significant time and resources. The whistleblower continued to assist the SEC throughout the investigation.

  • The third whistleblower received more than $400,000 after they provided allegations that were significant in contributing to charges brought by the SEC in an enforcement action. That whistleblower first reported their concerns internally, which caused the company to cease the conduct. They then submitted a detailed tip to the SEC, and assisted investigators throughout the process.

SEC whistleblowers can receive 10 to 30 percent of funds collected in enforcement actions brought due to their information. To learn more about the whistleblower awards program and how to submit information, contact an experienced whistleblower lawyer at Kardell Law Group.

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Testimonials
  • "Steve Kardell was terrific in representing me in some very adversarial discussions with Citigroup and also later represented me in my testimony before the Financial Crisis Inquiry Commission."  -Richard Bowen, Citigroup Whistleblower

  • "Incredible knowledge of employee related concerns and equally brilliant knowledge of health care regulations, standards of practice. I would recommend this firm to anyone."  -V.B.

  • "Reaching out to Steve Kardell was the best decision I made. His ability to provide immediate insight and direction was very powerful, and a huge relief during a very stressful time period. For anyone struggling with a whistleblower situation, I would highly recommend at least speaking with Steve. After a 10 minute call with him, I had a better understanding of what I was dealing with. Even better, he gave me some immediate hope. In the end Steve did a better job than I thought was possible. Steve was able to get in contact with people in my organization, that I didn’t have access to. Because of his years of experience, he already has contacts in many organizations in Dallas. The entire situation was handled peacefully. I was impressed by his ability to “keep the peace”–rather than creating a battle with the organization. The reason I didn’t reach out to a lawyer initially, was because I thought it would mean an immediate end to any hope of a positive relationship with the company. Steve was able to address my concerns, and in the end I was able to continue to work for them."  -KS

  • "Never thought my career would end like it did after 30 years of service. I was part of the first round of the so called reduction of force. I asked myself how can I be part of this with 30 years of seniority. How did they pick these 90 plus employees? Now, the culture of this organization made you question every decision they made. It wasn’t what you knew it’s was a culture of who you know. Nonetheless, I did not accept their severance package. I immediately starting looking for an attorney who would take on my case. After the initial call to Steve I had hope again. He was open and honest about everything and reassured me he would do his best for me, and he did. I had an awesome outcome. Thanks Steve you’re the best."  -S.S.

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