By Steve Kardell | Published April 10, 2017 | Posted in Whistleblower Litigation | Tagged Tags: 2016 whistleblower awards | Comments Off on 2016 Was by Far the SEC Whistleblower Program’s Biggest Year
2016 Was by Far the SEC Whistleblower Program’s Biggest Year
There were numerous milestones in 2016 for the SEC Whistleblower Program, in many regards. It marked five years since the program was created under the Dodd-Frank Wall Street Reform Act, saw the second-largest bounty in the history of the office and reached milestone numbers of total awards. The following is a brief overview of some Read More
Read MoreInfosys GC Receives $1 Million Severance Upon Departure from Company
Infosys Ltd., the second-largest provider of software services in India, announced its general counsel and chief compliance officer, David Kennedy, was leaving the company effective December 31. The announcement was considered noteworthy because of its seemingly sudden nature and the fact that Kennedy received a $1 million severance package upon his departure. His severance package Read More
Read MoreCSU’s Latest Whistleblower Settlement Worth $1.3 Million
Chicago State University recently agreed to a $1.3 million settlement in a whistleblower suit brought forth by a former university administrator who claimed he was fired for reporting financial wrongdoing by the university’s then-president. It was the second such settlement the university was forced to pay in the last three years. The case was scheduled Read More
Read MoreWhistleblower Wins $2.6 Million Settlement in Suit Against Bay Sleep Clinic
A whistleblower in northern California recently won a $2.6 million settlement in a lawsuit against Bay Sleep Clinic, a company that operates 20 different clinic locations throughout the northern part of the state. The settlement was officially announced December 28, 2016 by the U.S. government. In the suit, the whistleblower alleged the clinic routinely engaged Read More
Read MoreWhistleblower in Arkansas Settles Lawsuit for $87,500
The city of Hot Springs, Arkansas recently paid out $87,500 to settle a lawsuit filed in 2015 stemming from a case of whistleblower retaliation. The settlement terms were publicized after a local paper, the Sentinel-Record, made a request under the Arkansas Freedom of Information Act. In the lawsuit, a former employee of the city alleged Read More
Read MoreSEC Awards Nearly $1 Million to Whistleblower Who Provided High-Quality Tip
The U.S. Securities and Exchange Commission (SEC) announced in December that it was awarding a whistleblower with more than $900,000 for a tip that allowed the agency to bring multiple large enforcement actions against certain entities. The award marked the second in the span of a week — and the final award handed out in Read More
Read MoreSandRidge Energy Inc. Settles Whistleblower Retaliation Case
The U.S. Securities and Exchange Commission (SEC) recently announced that SandRidge Energy Inc., an Oklahoma City-based oil and gas company, has settled charges of illegal separation agreements and whistleblower retaliation. The company agreed to pay a fine of $1.4 million, but did not admit fault as part of the settlement. According to the SEC, SandRidge Read More
Read MoreWhistleblower Receives $5.5 Million Award for Providing Information to SEC
A recent corporate whistleblower who provided information to the U.S. Securities and Exchange Commission (SEC) about an ongoing fraudulent scheme targeting investors received a $5.5 million award from the agency. It marked the 38th award the agency has handed out since the program’s establishment in 2012. According to the SEC, the whistleblower was still employed Read More
Read MoreHow to Enhance Your Company’s Due Diligence Process
Your company’s due diligence process requires a wealth of information to be effective, especially in a world in which global business has become increasingly prevalent. The following are some ways you can enhance your due diligence process: Adverse news search: Regulators suggest the inclusion of an adverse news search as part of any due diligence Read More
Read MoreStudy Finds Benefits to Whistleblower Complaints for Corporations
A study from the University of Iowa indicates that financial wrongdoing within corporations tends to see a marked decrease after a major whistleblower complaint. Researchers looked at various companies’ financial reporting after they were involved in alleged improprieties. The data in the study was from the years 2003 to 2010. This was the first major Read More
Read More
