One of the clients of prominent law firms, Labaton Sucharow Client, is awarded $17 Million for his whistleblowing initiative against the corrupt practices of a large financial firm. The reward is the second highest compensation since the whistleblowing law was implemented nearly six years earlier. According to the terms of SEC Whistleblowing Program, a whistleblower is entitled to get a reward between 10 percent and 30 percent of the proceeds collected by regulatory authorities from the culprit.
The reward was a result of the efforts of Labaton Labaton Sucharow LLP, which is seen as a benchmark for whistleblowing services to anyone interested in revealing such important information. In this case, the identity of the whistleblower was protected because the SEC allows the person to remain anonymous before and after the indictment.
Prominent SEC whistleblower attorney and lawmaker, Jordan A. Thomas, was in charge of the proceedings. According to Thomas, his client deserves the compensation because he came forward when others were reluctant to protect the interest of investors. Actually, Thomas represents the team at Labaton Sucharow LLP, which is also the first team of lawmakers who are dedicated to whistleblowing activities. Thomas is also a perfect choice for such services because he was the first lawyer who successfully represented the first officer of a public company to receive a whistleblower award. In fact, the well-known SEC whistleblower lawyer is also credited for handling the first case where an employer was charged for retaliating against the whistleblower.
According to the SEC law, anyone who reports irregularities in the financial sector is entitled to get compensation for successful charge and also receive full employment protection. To make things easier, Labaton Sucharow LLP initiated the first in-house program for whistleblowers that would allow anyone to discuss details before going to the court. The in-house team consists of a number of experts such as investigators, financial analysts, forensic accountants with federal and state law enforcement experience. The program is led by Jordan A. Thomas.
Accordingly, all consultations are free of charge, and they do not require the client to reveal their identity. The company can be contacted using a variety of methods including email, online form, and telephone. The United States Congress has already ensured $400 Million in its Investor Protection Fund, which will provide continued stream of rewards for whistleblowers who want to come forward by disclosing illegitimate and illegal practice in the financial sector.