SEC Considers Changes to Rules of its Whistleblower Program

By Steve Kardell | Published March 31, 2022 | Posted in Fraud, Whistleblower Litigation | Tagged Tags: SEC, Securities and Exchange Commission, whistleblower awards |

On February 10, the U.S. Securities and Exchange Commission announced a pair of proposed changes to some of the rules that govern the agency’s successful whistleblower program. The proposed amendments are to Exchange Act Rules 21F-3 and 6. If the amendments were to be adopted, they would ensure whistleblowers are more appropriately rewarded for their Read More

SEC Issues $600,000 Whistleblower Award

By Steve Kardell | Published March 29, 2022 | Posted in Whistleblower Litigation | Tagged Tags: SEC, securities fraud, whistleblower awards |

The U.S. Securities and Exchange Commission (SEC) issued a $600,000 whistleblower award on Tuesday, February 22 to an individual who voluntarily submitted unique, credible information to the agency that led to a successful high-value enforcement action. As is the case with all SEC awards, the agency did not release any information about the whistleblower or Read More

Whistleblower Receives Award of More Than $2 Million from the SEC

By Steve Kardell | Published January 6, 2022 | Posted in Whistleblower Litigation | Tagged Tags: SEC, SEC award eligibility, whistleblower award |

The U.S. Securities and Exchange Commission (SEC) recently awarded a whistleblower more than $2 million for disclosures that resulted in successful enforcement actions by both the SEC and the U.S. Department of Justice (DOJ). The whistleblower had previously received an award in connection to SEC covered action. The new $2 million award was based on Read More

SEC Whistleblower Program Surpasses $1 Billion Threshold

By Steve Kardell | Published December 30, 2021 | Posted in Whistleblower Litigation | Tagged Tags: SEC, SEC award, SEC whistleblower program |

The SEC whistleblower program achieved a significant milestone at the beginning of September when it surpassed a total of $1 billion in awards. The agency announced this first whistleblower award in 2012, and since that time has seen steady increases in the amount of money it provides in awards to whistleblowers. As of early September, Read More

SEC Issues Shared $2.6 Million Award to Five Whistleblowers

By Steve Kardell | Published December 14, 2021 | Posted in Whistleblower Litigation | Tagged Tags: SEC, SEC whistleblower award, SEC whistleblower program |

The U.S. Securities and Exchange Commission (SEC) announced an award of $2.6 million shared among five individuals who assisted the agency with three separate enforcement proceedings. One whistleblower received $1.2 million from the SEC for providing crucial independent analysis based on an algorithm they developed and applied to public data. This assistance from the whistleblower Read More

Three Compliance Officers Awarded $1 Million in SEC Claim

By Steve Kardell | Published November 25, 2021 | Posted in Fraud, Whistleblower Litigation | Tagged Tags: compliance officer, SEC, SEC whistleblower awards |

The Securities and Exchange Commission (SEC) recently awarded three compliance professionals a joint award of $1 million for their role in helping the agency uncover and prosecute misconduct at their firm. As is always the case with SEC whistleblower awards, the identities of those whistleblowers were kept private, as well as any potential identifying information, Read More

SEC Issues $3.8 Million Whistleblower Award in Fraud Case

By Steve Kardell | Published November 23, 2020 | Posted in Fraud, Whistleblower Litigation | Tagged Tags: SEC, SEC whistleblower award, Securities and Exchange Commission |

In July, the U.S. Securities and Exchange Commission (SEC) issued a $3.8 million award to a whistleblower who assisted the commission by providing crucial information during an ongoing investigation into a fraudulent scheme. According to the press release the SEC put out to announce the award, the whistleblower provided the agency with information that “helped Read More

SEC Sees Significant Increase in COVID-19 Related Tips and Complaints

By Steve Kardell | Published September 17, 2020 | Posted in Fraud | Tagged Tags: covid-19, fraud allegations, SEC |

The U.S. Securities and Exchange Commission (SEC) noted it has seen a “spike” in tips, complaints and referrals related to COVID-19, prompting brand new investigations for the commission. The agency is specifically focused on fraud relating to the pandemic. According to the SEC, it has issued more than 30 trading suspensions since early February based Read More

Latest SEC Whistleblower Award: $3.8 Million

By Steve Kardell | Published August 31, 2020 | Posted in Fraud, Whistleblower Litigation | Tagged Tags: financial fraud, SEC, SEC whistleblower award |

The most recent SEC whistleblower award was a $3.8 million bounty to a whistleblower who offered information to the agency that resulted in a successful enforcement action. As always, the information provided by the SEC about the whistleblower award was vague so as to protect the identity of the whistleblower. The SEC said the whistleblower Read More

SEC Awards $27 Million to Whistleblower

By Steve Kardell | Published August 27, 2020 | Posted in Fraud, Whistleblower Litigation | Tagged Tags: SEC, SEC award, SEC whistleblower awards, securities fraud |

April 2020 was a busy month for the SEC’s Office of the Whistleblower and its whistleblower award program. The headline award of the month was a $27 million award to a single whistleblower, which ranks among the larger awards given out by the SEC since the inception of its program. The award also helped the Read More

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Testimonials

"Steve Kardell was terrific in representing me in some very adversarial discussions with Citigroup and also later represented me in my testimony before the Financial Crisis Inquiry Commission." -Richard Bowen, Citigroup Whistleblower
"Incredible knowledge of employee related concerns and equally brilliant knowledge of health care regulations, standards of practice. I would recommend this firm to anyone." -V.B.
"Reaching out to Steve Kardell was the best decision I made. His ability to provide immediate insight and direction was very powerful, and a huge relief during a very stressful time period. For anyone struggling with a whistleblower situation, I would highly recommend at least speaking with Steve. After a 10 minute call with him, I had a better understanding of what I was dealing with. Even better, he gave me some immediate hope. In the end Steve did a better job than I thought was possible. Steve was able to get in contact with people in my organization, that I didn’t have access to. Because of his years of experience, he already has contacts in many organizations in Dallas. The entire situation was handled peacefully. I was impressed by his ability to “keep the peace”–rather than creating a battle with the organization. The reason I didn’t reach out to a lawyer initially, was because I thought it would mean an immediate end to any hope of a positive relationship with the company. Steve was able to address my concerns, and in the end I was able to continue to work for them." -KS
"Never thought my career would end like it did after 30 years of service. I was part of the first round of the so called reduction of force. I asked myself how can I be part of this with 30 years of seniority. How did they pick these 90 plus employees? Now, the culture of this organization made you question every decision they made. It wasn’t what you knew it’s was a culture of who you know. Nonetheless, I did not accept their severance package. I immediately starting looking for an attorney who would take on my case. After the initial call to Steve I had hope again. He was open and honest about everything and reassured me he would do his best for me, and he did. I had an awesome outcome. Thanks Steve you’re the best." -S.S.