Labaton Sucharow has been in the limelight of late for the achievements they have registered while pursuing cases of securities laws violations. The over five decades old law firm through their Whistleblower Representation Practice body has expressed happiness to the SEC reward that was handed to their client. The client had reported about violations in financial services industry and the information was first reviewed by Labaton Sucharow before he proceeded to the SEC for determination.
The Securities Exchange Commission has also expressed satisfaction in the effort the whistleblower made to expose wrong doings and they feel the compensation issued cannot equal the sanity injected into the industry following the developments.
Described as the second biggest margin payout since the SEC Whistleblower Program came into operation in 2010, the more than 17 million reward to the whistleblower has earned Labaton Sucharow a reputation for the dedication they have showed to ensure the client receives a deserving reward from the SEC.
The reward system used includes the payment of at least 10 percent of what is collected as sanction from the perpetrators and this time the amount was huge to guarantee the whistleblower a high margin.
Through the help of Labaton Sucharow, the whistleblower was able to prepare facts and verifiable information, which amounted to high-quality details that were all necessary for the case to proceed to completion. This is termed as a show of courage since the individuals mentioned in the heist are people with great influence in the industry. In fact, more other people knew about the violations but chose to keep quiet about it.
About the SEC Whistleblower Program
Established in 2010, the SEC Whistleblower Program is aligned to help whistleblowers present their cases without fear of intimidation or experiencing any barriers. To make it possible for more people to share information about violations, the program offers whistleblowers the ability to report anonymously to protect themselves from intimidation or victimization. There are also security measures that include protection against sacking or bullying when you report about your employer.
Incepted more than four decades ago, Labaton Sucharow is among recognized law firms in the U.S. that have gone into helping whistleblowers. They have a practice that works exclusively on the needs presented by whistleblower by assisting them to gather facts and to understand the legal side of reporting against securities violations. The firm has achieved tremendous success and one of their clients won the SEC Whistleblower award for sharing information that has helped to clean the financial services industry.