Whistleblower Awarded $4.5M for Reporting Internally and to SEC Within 120 Days. Exposing Misconduct.

Whistleblower Awarded $4.5M for Reporting Internally and to SEC Within 120 Days

May 24, 2019

The U.S. Securities and Exchange Commission has issued a $4.5 million whistleblower award, the first given under a provision incentivizing employees to submit allegations to the agency within 120 days of internal reporting.

Friday’s award is the latest in a series of massive whistleblower awards, and not just from the SEC. During one week in March, whistleblowers in unrelated cases received $86 million in awards, including $1.87 million for the former general counsel of the Houston Housing Authority. A press release from the SEC Friday claims the agency has awarded “$381 million to 62 individuals since issuing its first award in 2012.”

“In this case, the whistleblower was credited with the results of the company’s internal investigation, which were reported to the SEC by the company and led to the Commission’s resulting enforcement action and the related action,” said Jane Norberg, chief of the SEC’s Office of the Whistleblower, in a statement Friday.
Read more here.
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