Labaton Sucharow law firm is a front-runner in the provision of whistleblower representation services. The company created a division that only practices whistleblower law in 2010 after the Securities and Exchange Commission formed legislation that protects its informants. The firm recently informed the public on its recent achievement, which is assisting one of its clients to be awarded $17 million by the SEC for the information that he offered, about a rogue company in the financial sector. This prize was the second highest that the commission has ever paid to a source since the enactment of the protection program approximately five years ago. The SEC whistleblower plan demands that the reward that the whistleblower is offered should be at least 10 to 30 percent of the amount that is collected by the organization as penalties.
The Labaton Sucharow clients provided substantial intelligence to the SEC that assisted it in unearthing various unacceptable undertakings of a renowned company in the financial sector. The identity of the SEC informant was not revealed due to security purposes and to avoid being shut out by employers. The whistleblower was represented by a lawyer from the Lebaton Sucharow law company to maintain anonymity. The SEC also protected the identity of the whistleblower by not giving a lot of details on the case since it may assist other parties in disclosing the identity of the informant. Jordan A. Thomas who oversees the whistleblower representation program of the company believes that the took the right step by offering intelligence to the commission. Mr. Thomas is an attorney at source the company and before joining it, he worked for the SEC as a deputy director. He was also a major contributor to the creation of the whistleblower protection program.
The SEC is striving to embolden the public to report companies that do not abide by the federal securities laws. The Commission does this by assuring them a handsome reward that includes a monetary incentive and job protection. The Congress has also formed the Investor Protection Fund, which currently has $400 million that is to be used for awarding the whistleblowers.
Labaton Sucharow law company offers legal services to businesses, capitalists, and consumers who are involved in complex cases that deal with securities. The company was established 50 years ago, and it was the first to set up the whistleblower representation practice in 2010. It offers the best plaintiff lawyers, and it has gained recognition from the Benchmark Litigation, The Legal 500, and the Chambers and Partners.