SEC doles out record $50 million to whistleblower, pushing program total above $500 million. Exposing Misconduct.

SEC doles out record $50 million to whistleblower, pushing program total above $500 million

June 4, 2020

The Securities and Exchange Commission revealed Thursday it issued a record $50 million whistleblower payout to an individual who “provided detailed, firsthand observations of misconduct by a company.”

The whistleblower’s tip resulted in enforcement being taken against a related company and returned a significant amount of cash to harmed investors, according to the agency’s Thursday release. The SEC didn’t identify the whistleblower, company, or investors involved in the matter.

The award trounces the previous record sum of $39 million for an individual in 2018. A separate case that same year yielded a $50 million award split between two whistleblowers. The latest payment pushes the SEC program’s total payouts above $500 million.

Read more here.
The materials on this website are for general information purposes only and should not be construed as legal advice, legal opinion or any other advice on any specific facts or circumstances. Readers should not act or refrain from acting upon this information without seeking professional advice. Transmission of information on or by use of this website is not intended to create, and receipt does not constitute, a lawyer-client relationship between the sender and receiver.
Mobile Menu
×