Whistleblowers do NOT have to report violations internally before going to the SEC;
Attorneys, auditors and internal compliance personnel are generally not eligible to be whistleblowers;
Culpable whistleblowers are not necessarily ineligible, but any reward may be reduced;
Multiple proceedings based on the same nucleus of fact can be aggregated to meet the $1 million threshold to get a whistleblower bounty;
Information provided must be specific, credible and timely.
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O’Connor, Carnathan and Mack LLC is a commercial litigation law firm located in Burlington, Massachusetts that helps companies and individuals resolve complex business disputes, insurance coverage disputes, and personal injury claims. Our legal team includes top-flight commercial litigation attorneys as well as dedicated personal injury lawyers. Our clients include Fortune 500 companies as well as closely-held businesses and astute individuals. We believe every client deserves the finest representation possible for a fee they can afford. Accordingly, we offer our services at rational hourly rates and on a contingency fee basis, devise our strategies to fit the amount at stake, and are open to creative alternative fee arrangements as well. Our attorneys serve clients in Middlesex County and Suffolk County, as well as throughout Massachusetts and New England. Contact us to learn more.
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SEC Issues Final Rules for Whistleblower Bounties
This past Wednesday, May 25, 2011, the SEC issued its final rules for the Whistleblower Incentives and Protection provisions of the Dodd-Frank Act.
Key points:
Call us with any questions.
O’Connor, Carnathan and Mack LLC is a commercial litigation law firm located in Burlington, Massachusetts that helps companies and individuals resolve complex business disputes, insurance coverage disputes, and personal injury claims. Our legal team includes top-flight commercial litigation attorneys as well as dedicated personal injury lawyers. Our clients include Fortune 500 companies as well as closely-held businesses and astute individuals. We believe every client deserves the finest representation possible for a fee they can afford. Accordingly, we offer our services at rational hourly rates and on a contingency fee basis, devise our strategies to fit the amount at stake, and are open to creative alternative fee arrangements as well. Our attorneys serve clients in Middlesex County and Suffolk County, as well as throughout Massachusetts and New England. Contact us to learn more.