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FY 2021 has proven to be an even more active year than FY 2020 for whistleblower awards from the Securities and Exchange Commission. With more than three months still left in FY 2021, ...

The North American Securities Administrators Association ("NASAA") requested comment on a proposed Model Whistleblower Award and Protection Act (the "Act").

The National Whistleblower Center ("NWC") urged the SEC to extend the comment deadline on a proposal amending the SEC whistleblower program.

In a company with a robust compliance culture, potential whistleblowers can express their concerns without fear of retribution.

The SEC awarded more than $22 million to a whistleblower "whose detailed tip and extensive assistance helped the agency halt a well-hidden fraud at the company where the whistleblower worked."

Further, in 2017, Collectors Café and its CEO entered into a settlement agreement with other investors that had previously filed a lawsuit against them alleging, among others, securities fraud.

On March 26, 2019, the SEC's Office of the Whistleblower announced two multi-million dollar awards to whistleblowers who provided the SEC ...

The Securities and Exchange Commission (SEC) fined engineering firm KBR Inc. for whistleblowing violations.

May 13, 2016: the SEC awarded $3.5 million to a whistleblower who provided useful information in an ongoing investigation.

As we reported here, on May 5, 2023, the SEC issued an award of $279 million to a whistleblower. This is the largest award the SEC has issued to an individual whistleblower in the history...

In an annual report to Congress, the SEC's Office of the Whistleblower ("Office") reviewed FY 2019 program activities.

The SEC settled charges against a building products distributor for its use of severance agreements that required outgoing employees to waive their rights to monetary recovery when filing charges or complaints...

The SEC settled charges with a health insurance provider for illegally using severance agreements to require outgoing employees to waive their ability to obtain monetary awards from the SEC whistleblower program.

We previously posted on the Southern District of New York's December 5, 2014 ruling in this matter that internal reports are not protected under Dodd-Frank, as was held in the Asadi case out of the Fifth Circuit.

The presence of whistleblowers may have a meaningful impact on the outcomes of enforcement actions brought by the SEC and DOJ.

The Supreme Court decided in Digital Realty Trust, Inc. v. Somers that employees who report alleged securities laws violations internally, but not to the Securities and Exchange Commission ("SEC") ...

On Wednesday, February 21, 2018, the United States Supreme Court held, 9-0, in the case of Digital Realty Trust, Inc. v. Somers that the term "whistleblower" under the Dodd-Frank Wall Street Reform and Consumer Protection Act does not include individuals who report violations of securities laws internally to their companies but not to the United States Securities and Exchange Commission.

The California Revised Uniform Limited Liability Company Act provides procedures for both voluntary and judicial dissolution. When a member or members of a California limited liability...