On December 23, the Wall Street Journal quoted Proskauer Partner Steve Pearlman in an article (subscription required) addressing the SEC’s whistleblower bounty program, and what 2013 likely holds in store for whistleblowers and their employers. The Wall Street Journal’s piece is an insightful and compelling read, as it offers perspectives from a range of experts, including high-level in-house counsel and consultants, and is consistent with our post on the functioning of the SEC Office of the Whistleblower and the bounty it issued in 2012.
Pearlman commented in the article:
I feel very confident that we’re going to see more [whistleblower] awards in 2013, and they’re going to be sizable,
And he added that:
[a] spate of big awards would likely encourage other whistleblowers—and plaintiffs’ lawyers who specialize in whistleblower suits—to seek payouts . …
We’re committed to keeping our readers on top of all aspects of the SEC bounty program, and we expect quite a bit of activity in 2013 … so stay tuned.