LANDMARK LAWSUIT FILED AGAINST SEC TO PROTECT ALL WHISTLEBLOWERS

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In 2011, after the SEC unveiled a first-of-its-kind investor protection initiative, we stepped into the spotlight, establishing the nation’s first standalone practice exclusively focused on SEC whistleblowers. Since then, in addition to precedential wins, significant expansion and pivotal roles in domestic and international whistleblower legislation and rule-making, our practice has been front and center, staking new ground, elevating the program’s profile and regularly making news.

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Corporate Watchdogs Need to Bare Their Teeth

Jordan A. Thomas discusses strategies regulators must make when taking on corporate criminals Jordan A. Thomas recently spoke about how officials must come up with new methods and techniques when cracking down on corporate corruption. Thomas said, “Traditionally the answer has always been ‘we need new leadership,’ and the new leadership comes in and...

Latest SEC Bounty To Attract Outside Whistleblowers

Jordan A. Thomas says latest SEC bounty is the first of many to attract whistleblowers Eric Scott Hunsader, who revealed himself as the tipster who gave the Securities and Exchange Commission (SEC) information it needed to bring its landmark 2012 enforcement action against the New York Stock Exchange, said he was surprised when the agency...

January 18, 2016

SEC Issues Milestone Whistleblower Award

Jordan Thomas said while the SEC has used information from people outside of a company previously—he cited the help the agency received from former securities executive and financial fraud investigator Harry Markopolos to pursue Bernard Madoff—the agency wasn’t issuing awards at that time. Still, he said this latest award marks a “milestone” for the SEC...

January 15, 2016

First Award Given to Company Outsider

The Wall Street Journal

In a first for the SEC whistleblower program, on January 15, 2016, the Commission announced a $700,000 award to a company outsider who provided analysis and support to the Commission, ultimately leading to a successful enforcement action. The landmark award underscores the broad reach of the program, which extends well beyond current and former employees...

January 8, 2016

SEC settles with hedge fund billionaire Steven Cohen

The Washington Post

The settlement is a humbling end to one of the government’s most high-profile cases. The allegations against billionaire Steven A. Cohen weakened last year when prosecutors were forced to drop its case against former SAC Capital employee, Michael Steinberg. Steinberg, a longtime Cohen confidant, had been found guilty of trading on illegal tips involving technology...

December 22, 2015

Is This How Wall Street Cleans Up Its Act? Badly Behaved Banker List Raises Concerns

International Business Times

An effort is underway to create a master list of Wall Street bankers who have run into ethical issues on the job. The proposed database would help companies avoid hiring repeat offenders who have a habit of jumping from firm to firm. But advocates of stronger ethics on Wall Street question whether it’s possible to...

December 18, 2015

In Win for SEC’s Stein, JPMorgan Gets Conditional Waiver

Jordan A. Thomas spoke to various media, including The New York Times Dealbook, about the Firm’s whistleblower client who tipped the Securities and Exchange Commission (SEC) about JPMorgan’s illegal mutual fund sales to private banking clients. This could potentially lead to the biggest payout to date by the whistleblower program set up by the Dodd-Frank...

December 5, 2015

The age of the whistleblower

Whistleblowing has been on the increase since the 2007-08 financial crisis sparked a crackdown on corporate corruption and collusion. The number of tips received by the “Whistleblower Office” of America’s Securities and Exchange Commission (SEC) has risen steadily since it was opened in 2011, to nearly 4,000 a year. “We live in the age of...

December 2, 2015

Banks Face Ongoing FCA Threat Despite Likely Dip in Fines

According to the Justice Department, whistleblowers filed more than 700 qui tam actions in fiscal 2014, the second year in a row to top that number. “Workers in the financial sector are starting to understand the potential rewards for reporting bad behavior at their firms,” said Jordan Thomas, the leader of [prior firm][‘s] whistleblower representation...

November 17, 2015

Whistleblower Tips Skyrocketed in 2015

Jordan Thomas, a partner at [prior firm] who represented two of this year’s award recipients, attributes the increase in tips to more awareness of the program. He also notes that “awareness has grown exponentially as the awards have gotten bigger.” And indeed the biggest ever reward of $30 million was doled out in September 2014...

November 13, 2015

Whistle-Blower Defendants Won’t Seek High Court Review

In the Neo@Ogilvy case ruling, a divided U.S. Court of Appeals for the Second Circuit concluded in September that a plaintiff needn’t bring his or her concerns to the Securities and Exchange Commission to be considered a whistleblower for Dodd-Frank Act anti-retaliation protection purposes. The decision doesn’t spell bad news for whistle-blowers said New York...

October 27, 2015

Trend Seen Toward Growing Whistle-Blower Protections

Bloomberg BNA Securities Law Daily

A new rift in federal circuit courts’ interpretation of whistleblower protections under the Dodd-Frank Act is a prime candidate for Supreme Court review, even though the potential timing of any high court action is far from certain. “It wouldn’t surprise me if there’s a delay” before the issue reaches the Supreme Court, Jordan Thomas, the...

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Featured

February 10, 2020

Jordan Thomas Recognized as a 2020 Top Thought Leader in Trust

Whistleblower Representation Practice Chair Jordan Thomas has been named a Trust Across America 2020 Top Thought Leader in Trust. A multi-year award winner, Jordan joins corporate leaders, academics and researchers who transform the way organizations build and operate their businesses. Describing Jordan’s work, Trust Across America wrote “And what if the SEC could tap the...

February 1, 2018

A Conversation with Jordan Thomas: The Origins of the SEC Whistleblower Program

Labaton Sucharow LLP

How to avoid the next financial crisis? How to detect the next fraud and deter the next fraudster? These questions plagued regulators, law enforcement, legislators and the public at large following the collapse of the global economy in 2008. One idea that would prove to be prescient and, in its execution, extraordinarily successful, was the...

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Labaton Sucharow Wins National Law Journal Elite Trial Lawyers Award for Securities Litigation

— Firm’s immigration pro bono efforts also recognized as the best in 2019 The National Law Journal has recognized Labaton Sucharow’s securities litigation practice as one of the best in 2019, earning the publication’s most prestigious plaintiffs’ bar award of the year. The NLJ’s annual Elite Trial Lawyers award honors the law firms that have demonstrated repeated success in...

Named one of the top whistleblower practices/attorneys in the country by The New York Times, Wall Street Journal, NPR and The New Yorker

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