Following recent developments where the SEC issued a payout to their client, Labaton Sucharow is celebrating the success since their effort managed to produce the second highest compensated whistleblower by the SEC. Their client walked away with $17 million and is said to have exposed the wrongs that have prevailed in the financial services industry for many years.
The client was able to qualify for the reward due to what Labaton Sucharow terms as high-quality information and consistent facts throughout the presentation. The verification process also worked in favor of the client and offered him a better position to prove what he presented. It is through the services offered by Labaton Sucharow the client was able to seamlessly sail through the process and emerge with an impressive reward.
To many, this is a show of courage since the cases mentioned had been witnessed before by others but they chose to keep quiet since they involved influential persons in the financial markets. Jordan Thomas, a Labaton Sucharow attorney says the future of SEC could see more cases brought forward since such success and rewards are offering motivation to whistleblowers.
The SEC Whistleblower Program
The SEC Whistleblower Program was introduced following the failure of the Consumer Protection Act prior to 2010. With new regulations and systems, the SEC Whistleblower Program came in to help whistleblowers have easy time when presenting facts to the body. Some of the things that have been looked into include the ability to report anonymously and protection against employers if one reports violations.
Labaton Sucharow has established a system that works closely with SEC whistleblowers and their main role in this process is to ensure the facts presented are in line with what the SEC wants to see in a report. The firm has also been dealing with other forms of litigation like representing individuals and companies in complex cases.