The Securities Exchange Commission (SEC) has for many years stood up for the rights of consumers by ensuring all the federal laws drafted in that respect are followed to the letter. One of the most important aspects of fighting against violations of securities laws is by coming up with a vehicle through which whistleblowers can present their facts.
In this case, the SEC Whistleblower Program is the pioneer of fair practices and has been offering rewards and protection to whistleblowers who match forward with vital information about different entities. It is a process that allows whistleblowers to benefit while offering support to the government in the fight against unfair practices that are against the welfare of consumers.
To advance this fight, Labaton Sucharow has been offering invaluable support that has ensured whistleblowers present only the right materials to the SEC for verification. Labaton Sucharow is a dedicated law firm that pioneered the provision of services to whistleblowers to help them sieve information before it is passed to the SEC for consideration. The body has worked with many professionals across the country and has celebrated successes after their clients won huge payouts.
In recent developments, Labaton Sucharow once again entered into frenzy mode after one of their clients was picked by the SEC Whistleblower Program for the second biggest payout amounting to over $17 million. This success shows how committed to service the firm has become and the achievements it has recorded over the past few years for assisting whistleblowers differentiate facts from information that cannot help their cases to proceed.
One of the reasons behind the issuance of such a high payout is the fact the whistleblower shared high quality information that was touching on violations in the financial services industry. According to Jordan Thomas, a SEC Whistleblower attorney who works as the chair of the Whistleblower Representation Practice at Labaton Sucharow, it was a show of courage on the part of the whistleblower to share such information. This also reflects the fact that there are more people who are going to come out to present facts about different industries to prove violations by influential individuals.
The SEC Whistleblower program has contributed a lot to the courage since every whistleblower is assured of protection and there is anonymous reporting capability. Most importantly, the reward system has allowed whistleblowers to share vital and factual details in the anticipation they will get a payout for helping the government to combat securities violations.