Whistleblowers

News & Analysis as of

Second Circuit To Decide Retroactivity of Dodd-Frank Bounty Provision

As discussed in a Law360 article by Ed Beeson, the Second Circuit Court of Appeals will decide in Stryker v. SEC, No. 13-cv-4404, whether the SEC needs to pay Dodd-Frank whistleblower bounties to tipsters who provided...more

Ireland Takes Big Step in Protecting Whistleblowers

Earlier this year, the Protected Disclosures Act 2014 was enacted in Ireland to protect whistleblowers across all sectors of the Irish economy. Transparency International Ireland has lobbied for whistleblower legislation in...more

Will They Blow the Whistle for $30 Million? Whistleblower Rewards are Rising, Companies and Individual Lawyers Warned Not to Stand...

Last week, the U.S. Securities and Exchange Commission (“SEC”) announced that it expects to pay the largest whistleblower reward pursuant to Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act...more

SEC Announces Highest Whistleblower Award to Date

The SEC recently announced a record-breaking whistleblower award of $30-35 million, which shattered the previous high award of $14 million. See SEC Awards More Than $14 Million to Whistleblower. Not only is this award...more

Recent Remarks By Officials Reinforce DOJ’s Focus On Criminal Fraud Investigations And Prosecutions Of Culpable Individuals

In a trio of speeches given at separate events on September 17, 2014, Department of Justice (“DOJ”) officials announced new initiatives and points of emphasis in the Government’s ongoing efforts to hold corporations and...more

Second Circuit: No Dodd-Frank Protections for Whistleblowers Overseas

The U.S. Second Circuit Court of Appeals made an important ruling in August, deciding that the whistleblower protections in the 2010 Dodd-Frank Act do not cover individuals who work for companies located outside the United...more

Five easy steps to implement a whistleblower hotline

In 5... 4... 3... 2... 1... The ACFEs 2014 Report to the Nations states that the most effective method for reducing workplace fraud is to implement an ethics hotline to allow and encourage employees, customers, and...more

Should FIRREA Whistleblower Bounties Be Higher?

On Sept. 17, U.S. Attorney General Eric Holder raised the prospect of amending FIRREA — the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 — to increase its whistleblower awards with the goal of further...more

The SEC Goes Global - With 30 Million Reasons For Whistleblowers To Report Violations As Soon As Possible

On Monday, September 22, 2014, the Securities and Exchange Commission (SEC) announced an award to an anonymous foreign whistleblower of an estimated $30 million-plus payment that more than doubles the largest previous amount....more

Takeaways from the Latest Whistleblower Awards

Two recent awards by the SEC are noteworthy reminders that it continues to vigorously implement its whistleblower bounty program and that companies must be vigilant when dealing with internal complaints....more

Expect Focus - Regulators Are Watching: New Products, New Opportunities, New Risks - Volume III, Summer 2014

In This Issue: - IN THE SPOTLIGHT ..Standard CGL Policy Form Adds Data Breach Coverage Exclusion - LIFE INSURANCE ..Class Claims Against Lincoln National Barred in Section 419 Action – Again ...more

SEC Takes Action for Retaliation Against Whistleblower

The SEC has brought its first enforcement action for alleged retaliation against a whistleblower under the SEC’s Dodd-Frank whistleblower rules. The case demonstrates the Hobson’s choice companies face when they become aware...more

SEC Awards $30 Million to Overseas Whistleblower

Last week, the SEC announced its largest-ever whistleblower award – more than $30 million. Indeed, the SEC order in the case indicates that the final award could be as high as $35 million, depending on the amount of...more

Employment Flash - September 2014

In This Issue: - SEC Pays First Whistleblower Award to Audit and Compliance Professional - Supreme Court Allows Affordable Care Act Contraceptives Religious Exemption - EEOC Adopts New Pregnancy...more

Whistleblower at Tesco alerts of flawed accounting

It seems that Tesco has been artificially inflating its profits by £250m, and in the ensuing fiasco, has suspended four executives, including its UK managing director. A whistleblower's warning had payments from...more

Legal Alert: Largest SEC Whistleblower Award Could Have Been Larger

On September 22, 2014, the U.S. Securities and Exchange Commission announced the largest-ever whistleblower award, more than double last year’s record-breaking award. According to the Order, the award, which will likely...more

Healthcare Industry Faces Heightened Criminal Exposure Under New Criminal Division Review Process for Qui Tam Suits

The Assistant Attorney General for the Criminal Division, Leslie Caldwell, announced on September 17, 2014, that criminal prosecutors at the Justice Department in Washington will automatically review all new qui tam (i.e.,...more

Whistleblower Defendant Blows Whistle on Whistleblower

Antonio Saidiani filed a whistleblower suit alleging that NextCare urgent centers and CEO Dr. Shufeldt had collected tens of millions of dollars in false Medicare claims. Antonio was in a position to know because he was that...more

Court Allows Counterclaim Against Whistleblower for Breach of Employment Agreement

A federal court in New Jersey has permitted a defendant in a False Claims case to defend itself on the grounds that the whistleblower/ex-employees breached their employment agreements by using and disclosing confidential...more

SEC Puts Their Money Where Their Mouth Is: $30 Million Awarded to Whistleblower

On September 22, 2014, the SEC announced its largest whistleblower award to date under its Dodd-Frank whistleblower bounty program. It awarded $30-$35 million to an anonymous whistleblower who the Commission said provided...more

When you can't report misconduct to your manager, report it anonymously

"Faulty" managers are hard to bring concerns of wrongdoing to - That's why being able to do it anonymously and safely is so important to business success. If you think back along the path of your career and jobs...more

The Coming Qui Tam Tsunami: A New Threat to American Business

The most potent weapon in combatting corporate fraud against the U.S. government has been the False Claims Act (“FCA”). Under the FCA, the U.S. government may recover treble damages and civil fines for such fraud....more

Eighth Circuit Reminds Nonprofits They Are Subject to Whistleblower Laws

Nonprofits help shape, empower, and strengthen many underserved communities with the aid of donors who believe and trust in the organization’s mission. These goodhearted missions come with accountability to both donors and...more

SEC Announces $30 Million-Plus Whistleblower Award

The SEC announced an expected award of more than $30 million to a foreign whistleblower who provided “key original information” that led to a successful enforcement action by the agency. The award will be the largest made by...more

Today's special - fraud, hammers and nails

"... the company was slow to respond to early threats and only belatedly took action." By now we've all heard about the latest credit card breach within Home Depot - that account information of 56 million cardholders...more

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