October 26, 2021

Volume XI, Number 299

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October 26, 2021

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October 25, 2021

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SEC Awards Joint Whistleblowers More Than $50 Million

On April 15, 2021, the SEC announced payment of more than $50 million to joint whistleblowers who provided the SEC with information that resulted in the return of tens of millions of dollars to harmed investors.

Jane Norberg, Chief of the SEC’s Office of the Whistleblower, noted that “this award is the second largest in the history of the SEC’s whistleblower program” (following only the record-breaking $114 million award announced in October 2020), and reflects “the tremendous contribution of these joint whistleblowers to our ability to recover funds for harmed investors.”

Since the inception of the whistleblower program in 2011, the SEC has awarded approximately $812 million to 151 individuals, including over a quarter of a billion dollars in the first seven months of this fiscal year alone.  The order granting the award can be accessed here.

© 2021 Proskauer Rose LLP. National Law Review, Volume XI, Number 105
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About this Author

Lloyd B Chinn, Financial, Whistleblower Attorney, Proskauer Law Firm
Partner

Lloyd B. Chinn is a Partner in the Labor & Employment Law Department and co-head of the Whistleblowing & Retaliation Group. He litigates employment disputes of all types before federal and state courts, arbitration tribunals (e.g., FINRA, JAMS and AAA), and before administrative agencies in New York and across the country. Lloyd's practice ranges from litigating compensation disputes to defending whistleblower, discrimination and sexual harassment claims. Although he represents employers in a wide range of industries, including law, insurance, health care, consulting, media,...

212-969-3341
Pinny Goldberg Labor and Employment Lawyer Proskauer Rose Law Firm
Associate

Pinny Goldberg is an associate in the Labor & Employment Law Department. Pinny represents employers in a broad array of matters before federal and state courts, FINRA and other arbitration panels, and administrative agencies, including the EEOC and its state equivalents, and in pre-litigation negotiations. Matters he works on include discrimination and harassment, wage and hour, wrongful discharge, whistleblowing and retaliation, covenants not to compete, breaches of fiduciary duty, unjust enrichment, and tort and contract claims. 

In...

212.969.3074
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