Labaton Sucharow’s SEC whistleblower attorney, Jordan Thomas, represented a client who helped the firm’s team of investigators, financial analysts, and forensic accountants to acquire funds that would have been lost due to illegal trade deals. With the help of Jordan Thomas, Labaton Sucharow was able to get more than $17 million as a reward for their client who had sued a major financial service industry.
Labaton Sucharow started a whistleblower program that advocated for the rights of each whistleblower as outlined in the SEC’s whistleblower program reforms. The new whistleblower program requires that whistleblowers receive monetary awards and employee protection against retaliation from their workplaces after exposing trade malpractices.
Labaton Sucharow whistleblower program SEC attorneys ensure that they keep their clients’ information anonymous. The attorneys understand how reporting a securities violation can be tormenting to a whistleblower. For this reason, they always ensure that after a successful enforcement action against violators of trading policies, the whistleblowers are awarded a fair amount.
The $17 million awarded to a whistleblower being represented by Labaton Sucharow was among the largest rewards that have been obtained from the SEC Whistleblower Program since it was started in 2010. According to SEC regulations, whistleblowers should be awarded 10-30 percent of the penalties imposed on violators after a successful enforcement action. The size of the reward also depends on the whistleblower’s participation towards a successful sanction.
Moreover, whistleblowers were given a chance to report violations anonymously through a SEC whistleblower attorney. A SEC attorney serves as an intermediary between the whistleblower and SEC. this way, every information that a whistleblower has can be used by the SEC to prosecute violators without putting the whistleblower at risk.
Jordan A. Thomas describes his clients as a courageous people since most people identified various securities violation but they could not take a step to expose the offender. However, he said that he was convinced that other people could soon come out to provide evidence of securities violations in the financial service industry.
Jordan is a renowned counsel with reliable experience after serving an executive position in SEC’s division of enforcement. He participated in developing the whistleblower program rules. He is also recognized for helping SEC in a lawsuit against an employer who was charged with retaliation on a whistleblower.
Labaton Sucharow LLP is law firm started about five decades ago. The firm has been representing investors and businesses on legal issues concerning securities trading.