On June 4, 2020, the SEC announced a nearly $50 million award to a whistleblower who provided the SEC with detailed, first-hand information that assisted the agency in bringing a successful enforcement action. While tipsters have previously shared a $50 million award, this is the largest amount ever awarded
Dominique Kilmartin
Reuters: SEC Eager to Prosecute COVID-19 Misconduct Amid Flurry of Whistleblower Complaints
A Reuters article published on May 26, 2020 reports that the SEC has experienced an uptick in complaints amid the COVID-19 pandemic. According to the article, the SEC received about 4,000 complaints from mid-March through mid-May – a 35% increase from the previous year. With an abundance of tips at…
DOL Decision Confirms Extraterritorial Limits of SOX Whistleblower Provision
As we previously reported, the Department of Labor’s (DOL) Administrative Review Board has twice held that Sarbanes Oxley’s anti-retaliation provision does not apply extraterritorially. See Hu v. PTC, Inc., ARB Case No. 2017-0068 (Sept. 18, 2019); Perez v. Citigroup, Inc., ARB Case No. 2017-0031 (Sept. 30, 2019). …