The fraudulent activities of a key firm in the financial industry were exposed using the intelligence that was provided by the SEC whistleblower. The identity of the informant was not disclosed since the SEC avoided offering much information to the public. The source also hired a lawyer (Labaton Sucharow) to represent him during the case. Revealing an individual’s identity may cause blacklisting and harassment by employers since securities cases are very sensitive. According to the administrator of the Labaton Sucharow’s SEC whistleblower attorneys, Jordan A. Thomas, offering intelligence to the SEC was a bold move for the informant. Jordan is an attorney who has ample experience in handling cases that deal with securities since he used to serve the SEC as its deputy attorney. He also made significant contributions to the formation of the whistleblower representation laws when he was still in the commission.
The commission has been ensuring that its whistleblower protection program is enacted well, and therefore, it created the Investor Protection Fund. This program is dedicated to ensuring that the informants receive their reward in time. It has approximately $400 million, and the amount is frequently replenished. Translators are also provided by the commission to assist whistleblowers who cannot communicate in English. The Dodd-Frank Act indicates that it is unlawful for the employers to harass employees for providing intelligence to the SEC.
Labaton Sucharow is one of the leading law companies that offer the best plaintiff representation in the United States. The firm was established about five decades ago, and its whistleblower representation service started in 2010. Various organizations have acknowledged its legal solutions, and they include the Benchmark Litigation, The Legal 500, and Chambers and Partners.