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SEC Announces First Whistleblower Award During Trump Era

On April 25, 2017, the Securities and Exchange Commission issued a Dodd-Frank whistleblower award of nearly $4 million, the first bounty award issued during the Trump administration. To maintain the whistleblower’s...more

Third Circuit Revives In-House Attorney’s Whistleblower Claim

On April 12, 2017, the Third Circuit partially revived a former in-house attorney’s whistleblower retaliation lawsuit against his previous employer. Danon v. Vanguard Group, Inc., No. 16-cv-2881....more

U.S. Supreme Court Passes On Opportunity To Address Scope of Dodd-Frank “Whistleblower” Provision

On Monday, March 20, 2017, the U.S. Supreme Court denied a Petition for Writ of Certiorari in Verble v. Morgan Stanley Smith Barney, LLC. (No. 16-946), thereby declining an opportunity to resolve a conflict amongst circuit...more

SEC Reduces Whistleblower Bounty Based On Culpability And Delayed Reporting

On February 28, 2017, in an Order almost entirely devoid of detail, the SEC announced that a whistleblower will receive 20% of any monetary sanctions collected in an enforcement action commenced as a result of the...more

S.D.N.Y. Dismisses Dodd-Frank Whistleblower Retaliation Claim

In one of the first cases to address the standard governing a motion for summary judgment in a Dodd-Frank whistleblower retaliation case, Judge Jed S. Rakoff ruled that two former executives of Vista Outdoor Inc. (the...more

Sixth Circuit Declines to Address the Definition of Dodd Frank “Whistleblower”

On January 13, 2017, the Sixth Circuit in Verble v. Morgan Stanley Smith Barney, LLC, declined an opportunity to be the third federal appellate court to address the definition of “whistleblower” under Dodd Frank’s...more

SEC Issues $5.5 Million Whistleblower Award

On January 6, 2017, the SEC announced the first whistleblower award this year.  The award of approximately $5.5 million, comes almost exactly a month after the SEC issued two awards totaling over $4.4 million....more

Highlights of SEC’s 2016 Annual Whistleblower Report

The Securities and Exchange Commission’s Office of the Whistleblower recently released its sixth Annual Report on the Dodd-Frank Whistleblower Program to Congress, which details information on the SEC’s activities and bounty...more

SEC Issues Two Large Whistleblower Awards

In less than one week, the SEC issued two whistleblower awards totaling over $4.4 million. On December 5, 2016, the SEC issued a whistleblower award of approximately $3.5 million. Several days later, on December 9, 2016, the...more

NY Law Journal Report: Trump And The Future Of The SEC Whistleblower Program

As reported by Ryan Barber of the National Law Journal, the Trump administration could change the trajectory of the SEC whistleblower office, potentially halting the SEC’s recent strict scrutiny of potential impediments for...more

E.D. Pennsylvania Limits Protected Activity Under SOX

In Westawski v. Merck & Co., No. 14-cv-3239 (E.D. Pa. Oct. 18, 2016), the Eastern District of Pennsylvania granted Defendant Merck & Co. (Company) summary judgment on Plaintiff Joni Westawski’s (Plaintiff) SOX whistleblower...more

SEC Issues Another Multi-Million Dollar Whistleblower Award

Less than one month after issuing a $22 million award, the SEC issued another multi-million dollar whistleblower award on September 20, 2016. The SEC’s most recent award exceeded $4 million. The SEC issued its typical...more

OSHA Issues New Guidance Regarding Whistleblower Settlements

OSHA has issued new guidance on approving settlement agreements in whistleblower cases, revising portions of its Whistleblower Investigations Manual. The guidance, dated August 23 but not released until September 15, states...more

CFTC Proposes New Amendments to its Whistleblower Rules

The U.S. Commodity Futures Trading Commission (“CFTC” or the “Commission”) has proposed numerous amendments to the Whistleblower Rules found in Part 165 of the CFTC’s Regulations. The Commission seeks to enhance the process...more

SEC Continues To Scrutinize Separation Agreements

On August 16, 2016, the SEC announced that Health Net Inc. (Company) agreed to pay a $340,000 penalty to settle charges that it violated Rule 21F-17 by using severance agreements that allegedly prohibited its employees from...more

Wisconsin District Court Follows 5th Circuit: Internal Tipsters Are Not Considered “Whistleblowers” Under Dodd-Frank

On August 12, 2016, the U.S. District Court for the Eastern District of Wisconsin in Lamb v. Rockwell Automation Inc., No. 15-CV-1415-JPS (E.D. Wis. Aug. 12, 2016) held that the Dodd-Frank whistleblower protection provision...more

SEC Affirms Denial of Bounties to Three Purported Whistleblowers

On July 19, 2016, the SEC issued an order upholding the SEC Claims Review Staff’s (“CRS”) Preliminary Determination denying three claims for whistleblower awards. The SEC’s order explains how the claimants’ bounty requests...more

SEC Whistleblower Chief Sean McKessy to Leave, Agency Announces

On July 8, 2016, the SEC announced the departure of Sean X. McKessy, Chief of the SEC’s Office of the Whistleblower. Mr. McKessy was the first to hold that role and started his post in February 2011. Mr. McKessy is credited...more

SEC Issues Two Multi-Million Dollar Whistleblower Awards

Over the past week, the U.S. Securities and Exchange Commission (“SEC”) announced two multi-million dollar awards to whistleblowers who provided the SEC with information in ongoing investigations. On May 13, 2016, the...more

In 10-1 Verdict, Jury Finds No FCA Violation by Abbott Laboratories

On April 7, 2016, after just three hours of deliberations following a three-week trial, a federal jury dismissed False Claims Act (“FCA”) claims against Abbott Laboratories brought by a whistleblowing former employee.  The...more

SEC Intervenes In Former In-House Attorney’s Whistleblower Lawsuit

On March 28, 2016, the U.S. Securities and Exchange Commission (“SEC”) filed an amicus brief in a whistleblower lawsuit brought by a former in-house attorney against Vanguard Group (the “Company”).  The case is Danon v....more

Critic of High-Frequency Trading Receives SEC Whistleblower Bounty Award

According to a MarketWatch report, Eric Hunsader of Nanex LLC has identified himself as is the recipient of a more than $700,000 Dodd-Frank whistleblower bounty award.  According to Hunsader, the information he provided to...more

EEOC Proposes Expansive Enforcement Guidance for Retaliation Claims

For the first time in nearly 20 years, the Equal Employment Opportunity Commission has issued proposed enforcement guidance regarding retaliation claims. According to the EEOC, the revised guidance is necessary in light of...more

SEC Awards Whistleblower More Than $700,000

On January 15, 2016, the Securities and Exchange Commission’s Office of the Whistleblower (“OWB”) announced the award of more than $700,000 to a “company outsider who conducted a detailed analysis that led to a successful SEC...more

Tennessee District Court Limits Scope of Dodd-Frank Whistleblower Claim

The Eastern District of Tennessee recently dismissed whistleblower claims, finding that the Plaintiff was not entitled to protection under Sarbanes-Oxley, Dodd-Frank, or the False Claims Act (“FCA”). Verble v. Morgan Stanley...more

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