SEC Awards Two Whistleblowers $50 Million, Including Third Largest Ever Individual Award

On March 26, 2019, the SEC announced that it was awarding two whistleblowers a total of $50 million for providing the agency with information that led to a successful enforcement action. The two awards consisted of an award to one individual of $13 million and an award to a second individual of $37million. The $37 million award is the third largest award in the history of the SEC’s whistleblower program. The SEC’s March 26, 2019 press release announcing the awards can be found here. The SEC’s whistleblower award order can be found here.   The SEC’s press release does not identify the names of the individuals receiving the awards nor does it identify the matter in connection with which the award was being made. The agency’s whistleblower award order is heavily redacted to remove all identifying information of this type.   However, on March 26, 2019, the Labaton Sucharow law firm issued its own press release (here), in which the law firm…

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