A Law360 article titled SEC Welcomes Foreign Whistleblowers Though Courts Don’t quotes whistleblower lawyer Jason Zuckerman about the SEC awarding more than $30 million to a whistleblower under the SEC’s Dodd-Frank whistleblower reward program. The article focuses on two aspects of the SEC’s order. First, the order clarifies that the SEC can reward whistleblowers overseas who disclose violations of U.S. securities laws. Second, the order penalizes the whistleblower for not coming forward earlier to disclose the fraud.
The article quotes whistleblower attorney Jason Zuckerman’s observation that the SEC’s order will encourage whistleblower to disclose fraud early on to get a higher award:
“The SEC is sending a strong signal that whistleblowers should report violations early on in order to protect investors,” said Jason Zuckerman . . . who focuses on whistleblower claims. “His massive award will likely embolden more whistleblowers to take the risk entailed in coming forward and reporting fraud.”
Recently the Department of Labor Administrative Review Board issued a decision in Blanchard v. Exelis Systems Corp., ARB No. 15-031, ALJ No. 2014-SOX-20 (ARB Aug. 29, 2017), which provides a thorough analysis of why SOX whistleblower protection applies extraterritorially. Click here to read more about extraterritorial application of SOX.
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Firm Principal Jason Zuckerman has been named by Washingtonian Magazine as a “Top Whistleblower Lawyer” and the firm has been ranked by U.S. News as a Tier 1 Firm in Labor & Employment Litigation.
Leading whistleblower law firm Zuckerman Law has substantial experience investigating securities fraud schemes and preparing effective submissions to the SEC concerning a wide range of federal securities violations, including:
See our article in Forbes: One Billion Reasons Why The SEC Whistleblower-Reward Program Is Effective
For more information about the SEC Whistleblower Program, download our free ebook SEC Whistleblower Program: Tips from SEC Whistleblower Attorneys to Maximize an SEC Whistleblower Award and see the following resources: