Contact Nashville Whistleblower Attorney Timothy L. Milles Today if You Are Thinking of Blowing the Whistle
INTRODUCTION Ask a Nashville Whistleblower attorney, you could be eligible for a whistleblower award
In 2023, the Securities and Exchange Commission (SEC) awarded an unprecedented amount of $600 million in rewards to individuals who exposed wrongdoing and helped recover billions of dollars, including the largest ever whistleblower award of $279 million. These funds were derived from fines and other monetary penalties imposed on companies found to be in violation of United States securities laws. Whistleblowers have the potential to receive up to 30% of the recovered funds, but this percentage is applicable only once the amount exceeds $1 million.
If you have knowledge of fraud against or by the federal government, contact Nashville whistleblower attorney Timothy L. Miles who can guide you through the whistleblower process and explain your whistleblower protections. The consultation is free and confidential. (855) 846–6529 or [email protected]. Ask a Nashville Whistleblower attorney, you could be entitled to a significant whistleblower award. 1. $279 million
On May 5, the SEC awarded a record-breaking $279 million to a single whistleblower, marking the highest payout ever under the SEC Whistleblower Program and any other whistleblower awards initiative. Highlighting the significance of the award, Gurbir Grewal, SEC Director of Enforcement, stated that “the size of today’s award . . . not only incentivizes whistleblowers to come forward with accurate information about potential securities law violations, but also reflects the tremendous success of our whistleblower program.”
Although the SEC has not revealed the whistleblower's identity, investigative efforts by the Wall Street Journal suggest that this monumental award is linked to the over $1 billion settlement paid by Swedish telecom giant Ericsson in December 2019 to resolve charges from the SEC and Department of Justice (DOJ) concerning foreign bribery. 2. $104 million
On August 4, the SEC granted a $104 million reward to seven whistleblowers. This award was the fourth largest in the history of the SEC program at that time (currently the fifth largest). The group of seven included two pairs of joint claimants and three individual claimants, each of whom supplied information that either initiated or substantially aided an SEC investigation. In revealing the whistleblower award, SEC Whistleblower Chief Creola Kelly remarked, “[t]oday’s awards show that specific and credible [whistleblower] information plays an integral part in the SEC’s enforcement efforts.”
3. $28 million If you are thinking of blowing the whistle, call Nashville whistleblower attorney Timothy L. Miles today
On December 22, the SEC allocated $28 million to seven whistleblowers, including one individual claimant and two pairs of joint claimants. As reported by the SEC, the individual claimant and the first pair of joint claimants offered crucial and comprehensive information early in the probe, which significantly conserved the SEC's time and resources. The second pair of joint claimants contributed additional, albeit more restricted, information at a later stage of the investigation.
4. $28 million
On January 24, the SEC granted a $28 million reward to two whistleblowers whose disclosures initiated the SEC's investigation, culminating in a favorable settlement. This resolution led to the recovery of substantial funds for investors who were adversely affected. Whistleblower Chief Kelly stated: “Whistleblowers play an instrumental role in helping the SEC detect and prosecute wrongdoing and in protecting investors and the capital markets. Whistleblowers perform an incredible public service, as reflected by today’s award.”
5. $18 million Call a Nashville whistleblower attorney today who can explain more about your whistleblower protections
On August 25, the SEC granted an $18 million reward to a solitary whistleblower. Initially, this individual reported the wrongdoing internally within the company before bringing it to the attention of the SEC, which subsequently initiated an investigation. Creola Kelly, Chief of the SEC’s Office of the Whistleblower stated: “whistleblowers continue to play an essential role in assisting the agency in detecting misconduct and bringing securities law violators to justice.” She added that this particular whistleblower “refused to turn a blind eye to the wrongdoing, reporting misconduct internally and then to the Commission.”
FREQUENTLY ASKED QUESTIONSWho is a whistleblower?
According to Section 15 U.S.C. § 78u-6(a)(6) of the Dodd-Frank Act, a "whistleblower" is described as any person or a group of two or more individuals who offer information about breaches of securities laws to the SEC following the procedures set forth by the SEC through rules or regulations.
How much of a reward can a SEC whistleblower receive for their Information? Call Nashville whistleblower attorney Timothy L. Miles today for a free and confidential case evaluation
Under the authority granted by 15 U.S.C. § 78u-6(b)(1) of the Dodd-Frank Act, the SEC is empowered to award whistleblowers with 10% to 30% of monetary penalties exceeding $1 million, provided their original information results in a successful SEC enforcement action. Additionally, when the SEC imposes fines of at least $1 million on an entity or individual, the "related action" provisions of the statute become applicable. According to these provisions, whistleblowers are eligible to receive a reward amounting to 10% to 30% of the sanctions imposed by other government bodies that relied on the whistleblower’s information initially provided to the SEC.
Does the SEC have a Whistleblower Office?
The implementation of the Dodd-Frank Act necessitated the creation of a dedicated Whistleblower Office by the SEC. This specialized office serves as a valuable resource for individuals seeking information regarding the SEC whistleblower law. In order to submit complaints or requests for potential rewards, it is mandatory to file them with this designated office. For convenient access to important details and guidelines, the Whistleblower Office maintains an exceptional website.
If the SEC denies my award, can I appeal that decision?
Whistleblowers have the right to challenge the rejection of their whistleblower award, but there is no recourse available regarding the percentage of the monetary penalty imposed by the Commission. Essentially, if the Commission grants you a lower award (e.g., 10%), you cannot file an appeal and argue that you should have received a higher whistleblower award (e.g., 30%). However, if the Commission determines that you do not qualify as a "whistleblower" eligible for an award, you can contest the denial. Appeals must be submitted within 30 days to the appropriate United States Court of Appeals.
IF YOU ARE THINKING OF BLOWING THE WHISTLE, CONTACT NASHVILLE WHISTLEBLOWER ATTORNEY TIMOTHY L. MILES TODAY
If you have knowledge of fraud against or by the federal government, contact Nashville whistleblower attorney Timothy L. Miles who can guide you through the whistleblower process and explain your whistleblower protections. The consultation is free and confidential. (855) 846–6529 or email: [email protected]. Ask a Whistleblower attorney in Nashville, you could be entitled to a significant whistleblower award.
Call today and see what a whistleblower attorney in Nashville can do for you.
NASHVILLE WHISTLEBLOWER ATTORNEY
TIMOTHY L. MILES, ESQ. The Law Offices of Timothy L. Miles Tapestry at Brentwood Town Center 300 Centerview Dr., #247 Brentwood, TN 37027 Phone: (855) 846–6529 Email: [email protected] NASHVILLE WHISTLEBLOWER ATTORNEY TIMOTHY L. MILES Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime. Comments are closed.
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