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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July 21, 2014
SEC Whistle Blower Program Increasingly Stymied
Value Walk
Partner at [prior firm] and former Securities and Exchange Commission (SEC) enforcement official, Jordan A. Thomas and whistleblower advocacy group, the Government Accountability Project, recently filed joint petitions for rulemaking. Written on behalf of more than 250 organizations and nearly two million individuals, the petitions aim to clarify and strengthen whistleblower protections. and coincide with...
In The News
July 21, 2014
BNP Case Spurs Calls for Whistleblower Incentives in Banking
Reuters
“We have a (whistleblower) law that covers tax fraud and fraud against the government (and) commodities and securities violations, but we don’t have similar laws for banking regulators,” said Jordan Thomas, head of a prominent whistleblower representation practice at [prior firm] and an architect of the SEC’s program. “To me, that is a significant gap.”...
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July 21, 2014
Coalition Presses SEC on Whistleblower Rules
The Wall Street Journal
[Jordan Thomas][prior firm][‘s] and the Government Accountability Project formed a petition requesting that the SEC improve prohibitions on certain employment agreements and publicly clarify how protection from retaliation works for whistleblowers. The petition is a reaction to some of the “egregious and aggressive” tactics firms have taken in recent years in response to the program,...
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July 18, 2014
SEC Urged to Restrict Employee Nondisclosure Agreements
The Washington Post
A coalition of whistleblower lawyers and government watchdog groups Friday urged the Securities and Exchange Commission to bar companies from using overly restrictive nondisclosure agreements that discourage employees from coming forward with allegations of fraud and abuse. The coalition of 250 organizations said the rights of employees to report wrongdoing without retaliation are under attack...
In The News
July 15, 2014
SEC Enforcement Passes Midterms, but Big Tests Lie Ahead
Law360
Despite earning an “above average” grade by experts, the Securities and Exchange Commission continues to face challenges in bringing cases against companies for unlawful conduct. “The success of the SEC in the last six months has been driven heavily by the specialized units,” said Jordan Thomas, Firm partner and former SEC enforcement official.
In The News
July 4, 2014
Companies Ignore Whistleblowers at Their Peril
Financial Times
The U.S. Securities and Exchange Commission last month brought its first ever whistleblower retaliation case against Paradigm Capital Management. The hedge fund paid $2.2 million to settle allegations that it demoted its head trader after he reported potential illegal trading to the commission. Jordan Thomas, a former SEC official and the attorney who represented the...
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July 3, 2014
Whistleblowers Get His Attention
Crain's New York Business
Q. Why do you choose to represent corporate whistleblowers? A. I’ve always identified with the underdog. I grew up in modest means in Los Angeles, moved around quite a bit when I was young and grew up fast. Whistleblowers are seen as pariahs, yet they’re trying to report potential wrongdoing, which is important. They need...
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June 30, 2014
Whistleblowers are Increasing on Wall Street
New York Post
This year has marked a turning point for regulatory action against the country’s largest financial institutions, with federal and state agencies moving beyond the misdeeds of the 2008 financial crisis and devoting attention to other fraudulent schemes, including money‐laundering, taxdodging and predatory trading. That’s because frustrated Wall Street workers — emboldened by a beefed‐up whistleblower...
In The News
June 29, 2014
Workplace Secrecy Agreements Appear to Violate Federal Whistleblower Laws
The Washington Post
“Corporate America is becoming far more sophisticated and aggressive in its efforts to discourage people from coming forward and reporting externally,” said Jordan A. Thomas, who helped to establish the SEC’s whistleblower office as an assistant director there and now works for a New York law firm.
In The News
June 17, 2014
Hedge Fund Settles U.S. SEC Case Over Whistleblower Retaliation
Reuters
Albany, New York-based Paradigm Capital Management has become the first firm sanctioned by the Securities and Exchange Commission (SEC) for retaliating against a whistleblower. Paradigm settled those allegations and those stemming from the whistleblower’s report to the SEC, that it had engaged in prohibited principal transactions designed to reduce investors’ tax liability. The firm agreed...
In The News
June 17, 2014
Hedge Fund Paradigm Slapped For Demoting Whistleblower
FINalternatives
Albany, New York-based Paradigm Capital Management has become the first firm sanctioned by the Securities and Exchange Commission (SEC) for retaliating against a whistleblower. Paradigm settled those allegations and those stemming from the whistleblower’s report to the SEC, that it had engaged in prohibited principal transactions designed to reduce investors’ tax liability. The firm agreed...
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June 16, 2014
First Ever Whistleblower Retaliation Case Brought by SEC
Law360
In a landmark whistleblower action, the Securities and Exchange Commission awarded the highest possible financial bounty to a [Jordan Thomas][prior firm][‘s] client, a hedge fund employee who reported securities violations to the Commission. Following the SEC’s investigation, Paradigm Capital Management paid $2.2 million to settle allegations that it had engaged in prohibited principal transactions designed...
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February 10, 2020
Jordan Thomas Recognized as a 2020 Top Thought Leader in Trust
Press Release
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...
In The News
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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July 23, 2019
Labaton Sucharow Wins National Law Journal Elite Trial Lawyers Award for Securities Litigation
Press Release
— 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...
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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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