Hagens Berman’s Client and CFTC Whistleblower Receives $2 Million Award for Reporting Fraud under Dodd-Frank Act. Exposing Misconduct.

Hagens Berman’s Client and CFTC Whistleblower Receives $2 Million Award for Reporting Fraud under Dodd-Frank Act

March 5, 2019

SEATTLE–(BUSINESS WIRE)–Today, the Commodity Futures Trading Commission (CFTC) announced a $2 million whistleblower award given to an individual anonymous whistleblower client represented by attorneys at Hagens Berman.

The award recognizes the contribution of the whistleblower in providing critical information through independent analysis of market data. Under the CFTC’s Whistleblower Program created under Section 748 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the CFTC can pay an award to one or more whistleblowers in an aggregate amount between 10 and 30 percent of what the CFTC collects in monetary sanctions imposed in a given case.

Read the CFTC’s order.

“This award provided under the CFTC’s whistleblower program is a victory both for our client and for would-be commodities whistleblowers everywhere, showing the massive benefits whistleblowers stand to gain from reporting futures and other commodities fraud,” said Shayne Stevenson, partner and head of the whistleblower practice at Hagens Berman. “We’re incredibly pleased to have represented our client in this matter and to have been able to maximize this claim both to the benefit of our client financially and in protecting our client’s anonymity throughout. It’s also a reminder that no whistleblower should risk sharing valuable information without skilled representation.”

Read more here.
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