Thanks to whistleblowers, the Securities Exchange Commission (SEC) can boast an increase in cases – over 686 cases in 2014 alone. This is a first since 2011. In addition to the increase in numbers of whistleblower cases, the Securities Exchange Commission has had other notable marks: seven of the cases ended with settlements raking in over $100 million and a whistleblower was awarded $30 million for their information – a record-breaking payout. However, there have been many more cases that did not report fraud nor close out with major sanctions.
The whistleblower cases have mainly centered on misconducted related to the financial crises dating back to 2008 all the way until the present. The Securities and Exchange Commission is moving towards whistleblower cases involving insider trading, investment-adviser fraud, microcap-stock fraud, complex financial instruments, pyramid schemes, municipal securities, and financial-reporting fraud. The Securities and Exchange Commission will close out the 2014 fiscal year with the highest amount of whistleblower cases since 2011. Hopefully, the Securities Exchange Commission will continue to see a rise in the number of whistleblower actions in following years.
The Evans Law Firm, Inc. handles securities fraud whistleblower reward lawsuits, qui tam (whistleblower/false claims) actions, IRS tax fraud lawsuits, employment and retaliation litigation, as well as insurance fraud, banking fraud, and consumer class action fraud. The Evans Law Firm also handles physical and financial elder abuse and personal injury cases. If you have a whistleblower reward lawsuit, think you have been a victim of fraud or elder abuse, contact the Evans Law Firm, Inc. for a free and confidential consultation at 415-441-8669 or via email at firstname.lastname@example.org.