Find Out If You Are Eligible For An SEC Whistleblower Reward
If you voluntarily provide original information to the SEC that convinces it to open a new investigation, or that substantially contributes to an ongoing investigation, and the SEC collects more than $1 million from the wrongdoer(s), you may be eligible to receive an SEC whistleblower reward. That reward must be between 10% – 30% of the amount that the SEC collects from the wrongdoer(s).
However, there are a lot of rules that must be satisfied to be eligible for an SEC whistleblower reward, which is one reason why you should consider consulting with an SEC whistleblower law firm that focuses on SEC whistleblower cases.
With the proper legal guidance, the information that you provide can not only help to right the wrong of a corporate or financial fraud, but it can also result in a significant reward for you.
History of the SEC Whistleblower Reward Program
The Great Depression was devastating to our nation’s economy. In response, the U.S. Congress created an agency called the Securities and Exchange Commission (the “SEC”) in 1934. The SEC was given responsibility for overseeing the nation’s public securities markets, protecting public investors, and regulating companies that seek to raise money by selling stock on the national securities markets. For the rest of the century, the SEC fulfilled its mission admirably.
Unfortunately, late in the first decade of the new millennium, Lehman Brothers collapsed, other banks were sold at fire-sale prices or went out of business, the Bernard Madoff and R. Allen Stanford ponzi schemes were revealed, and the country fell into the “Great Recession”. It became apparent to the U.S. Congress that the SEC needed help to keep up with the explosive growth that had occurred in the securities markets since the 1930s, and the proliferation of frauds and securities violations that had grown alongside them.
In 2010, a new law called the Dodd-Frank Act was enacted. As part of the Dodd-Frank Act, Congress gave the SEC the power to give monetary rewards to individuals who provide the SEC with information about securities frauds or other frauds that lead to successful SEC actions.
In creating the SEC whistleblower reward program, Congress did more than give the SEC the help that it needed. Congress also acknowledged that people who have the courage to stand up and do what is right by reporting to the SEC deserve to be rewarded for their efforts.
One of the First Lawyers Ever to Win an SEC Whistleblower Reward
Within a few months after the SEC whistleblower reward program was created, Jason R. Pickholz left a partnership at a national law firm to form his own law firm, The Pickholz Law Offices. Mr. Pickholz’s goal was to create a law firm that would focus on providing SEC whistleblowers with big firm representation, delivered with the personal attention uniquely possible at a boutique firm.
Since then, as an SEC whistleblower lawyer, Mr. Pickholz has represented employees, officers, directors, and others in SEC whistleblower cases involving investment firms and public companies listed in the Fortune Top 10, Top 20, Top 50, Top 100, Top 500, and the Forbes Global 2000.
He was one of the first lawyers to win an SEC whistleblower reward for a client.
He was also the first lawyer ever to successfully convince the SEC to grant his client an SEC whistleblower reward over an initial recommendation by its staff to deny any reward. This was the first time in the history of the SEC Whistleblower Program that the Commission overruled an adverse Preliminary Determination by its Claims Review Staff. Inside Counsel Magazine named this victory as one of the “Five milestones in the Dodd-Frank whistleblower reward program“.
Mr. Pickholz is a co-author of the two-volume book Securities Crimes, published by leading legal publisher Thomson Reuters. He is also the sole author of the book’s 105 page chapter on the SEC whistleblower reward program.
In recognition of his accomplishments, Mr. Pickholz was elected by his peers to be a Fellow of the New York Bar Foundation, an honor that is limited to just 1% of the 74,000 lawyers in the New York State Bar Association.
You can find out more about Mr. Pickholz’s SEC whistleblower practice by clicking on the links to the top and right side of this page, or by clicking here.
If you believe that you have information that could be of help to the SEC, or want to find out if you may be eligible to receive an SEC whistleblower reward, please call The Pickholz Law Offices today at 347-746-1222.
Your initial conversation of up to one hour with Mr. Pickholz is free of charge. You are under no obligation to hire The Pickholz Law Offices or Mr. Pickholz when your initial conversation is concluded.
The above information is not and should not be construed as providing legal advice. It is not and should never be considered as a substitute for consulting with your own attorney. The use of this web site or this page does not constitute or create any attorney-client, fiduciary, or confidential relationship between The Pickholz Law Offices LLC and anyone using this web site, or anyone else. The information contained on this website is for informational purposes only. The content of this web site may not reflect current developments. Prior results do not guarantee a similar outcome. Results of prior cases or matters contained on this web site are not indicative of future results or outcomes, and should not be taken as a prediction, promise, or guarantee of any future result or outcome. No one who accesses this web site should act or refrain from acting based on anything contained on this web site. For additional terms and conditions governing the use of this web site, please click on the “disclaimer” link at the bottom of this page or click here.
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