Archive

Flood of SEC Whistleblower Awards Continues

Posted 06/17/21

It has been less than two months since SEC Whistleblower Chief Jane Norberg left the agency for private practice. As we previously wrote, her five years running the agency's Whistleblower Program were groundbreaking in the number and amount of awards the SEC made and in the agency's efforts to champion the critical role whistleblowers play within the SEC enforcement regime. As we also wrote at the time, the SEC...

Tagged in: Financial and Investment Fraud, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Rewards,

Auto-safety regulators finally take steps to stand up nation’s only safety-focused whistleblower program, but challenges lie ahead

Posted 06/16/21

Back in 2015, the public seethed over the auto industry’s historic failures. Takata’s air-bag scandal, Toyota’s unintended-acceleration deceptions, and General Motors’s deadly ignition-switch cover-up were in the headlines. Hundreds died and millions were exposed to grave dangers because of the industry’s propensity to bury known safety defects. In 2015, Congress tried to turn the tide, passing the

Tagged in: Auto Safety, Importance of Whistleblowers, Legislation and Regulation News, Whistleblower Eligibility, Whistleblower Rewards,

Whistleblowers Without Borders: International Whistleblowers are Increasingly Important Contributors of Tips to the SEC Whistleblower Reward Program

Posted 06/11/21

On March 4, 2021, the SEC announced an award of over $5 million to joint foreign whistleblowers whose tip, providing significant information about misconduct abroad, caused the opening of an investigation that resulted in a successful SEC enforcement action. According to Jane Norberg, former Chief of the SEC’s Office of the Whistleblower, “The whistleblowers’ information alerted the staff to misconduct...

Tagged in: Importance of Whistleblowers, International Whistleblowers, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Eligibility, Whistleblower Rewards,

The Dawn of Antitrust Whistleblowing

Posted 06/9/21

Attorney headshots of Marlene Koury and Kristian Soltes

Whistleblowing is crossing paths with antitrust enforcement. Expect the trend to accelerate.

In the past few years, whistleblowers have become increasingly instrumental in detecting and addressing corporate wrongdoing. Increased protections and financial incentives have encouraged whistleblowers to expose corruption and other wrongdoing, much of which would otherwise often go unnoticed. This phenomenon is also...

Tagged in: Antitrust Enforcement, Antitrust General, Importance of Whistleblowers, Retaliation, Whistleblower Eligibility, Whistleblower Rewards,

Constantine Cannon Client Receives Maximum Award for Blowing the Whistle on ITG

Posted 05/21/21

The SEC has made a multi-million-dollar award to a Constantine Cannon client whose original information and assistance led to an enforcement action against the brokerage firm ITG. The award—30% of the recovery—is the maximum allowed under the SEC Whistleblower Program. The SEC has taken three enforcement actions against ITG in recent years, two of which involve ITG’s dark pool POSIT. POSIT is an alternate...

Tagged in: CC Lawyers, Dark Pools, Importance of Whistleblowers, Market Manipulation and Trading Violations, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Case, Whistleblower Rewards,

Catch of the Week: University of Miami to Pay $22 Million to Resolve Allegations of Lab Test Fraud

Posted 05/14/21

The University of Miami will pay $22 million to resolve three False Claims Act lawsuits, the first of which was filed in 2013. The government alleged that UM, which operates a medical school out of Jackson Memorial Hospital and an extensive health system spanning four south Florida counties, fraudulently billed government health care programs to boost declining revenues. Jackson Memorial will separately pay $1.1...

Tagged in: Bundling and Unbundling, Catch of the Week, FCA Federal, Healthcare Fraud, Hospital Fraud, Laboratory and IDTF, Lack of Medical Necessity, Medical Billing Fraud, Whistleblower Case, Whistleblower Rewards,

Catch of the Week: Another Pharma Company, Incyte, Settles FCA Claims For Kickbacks to a Charitable Foundation

Posted 05/7/21

The Department of Justice announced this week that Incyte Corporation, a Delaware pharmaceutical company, has agreed to pay $12.6 million to resolve allegations that it violated the False Claims Act by paying kickbacks to a charitable foundation to increase prescriptions for the drug Jakafi, which is used to treat myelofibrosis, a form of leukemia that causes extensive scarring in bone marrow and leads to severe...

Tagged in: Anti-Kickback and Stark, Catch of the Week, FCA Federal, Healthcare Fraud, Medicare, Pharma Fraud, Whistleblower Case, Whistleblower Rewards,

Whistleblower Reward Programs Work, Harvard Business School Study Says

Posted 05/7/21

A team of researchers from Harvard Business School published study results showing whistleblower incentive programs work to expose corporate misconduct. Financial rewards also help to compensate whistleblowers for costs flowing from their decision to come forward, the paper said. The study contradicts various claims by critics of programs that offer cash incentives for blowing the whistle, according to its authors....

Tagged in: FCA Federal, Importance of Whistleblowers, Whistleblower Eligibility, Whistleblower Rewards,

Partner Mary Inman joins Shaifali Joshi-Clark of the Ontario Securities Commission’s Whistleblower Office to discuss the OSC’s whistleblower reward program at Whistleblowing Canada Research Society event “The Expansion of Whistleblower Reward Programs in the U.S., Canada and Globally.”

Posted 04/30/21

On March 17, 2021, Constantine Cannon whistleblower partner Mary Inman joined Shaifali Joshi-Clark, a senior forensic accountant in the Whistleblower Office of the Ontario Securities Commission (“OSC”), as a co-panellist for a webinar entitled “The Expansion of Whistleblower Reward Programs in the U.S., Canada and Globally,” organised by Whistleblowing Canada Research Society (“WCRS”) and moderated by...

Tagged in: CFTC Whistleblower Reward Program, FCA Federal, International Whistleblowers, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Rewards,

Jane Norberg Steps Down After Landmark Run As SEC Whistleblower Chief

Posted 04/16/21

Securities and Exchange Commission Decisions and Reports Book Volumes

Jane Norberg, Chief of the SEC's Office of the Whistleblower, will step down this month after five groundbreaking years. Norberg played a pivotal role in shaping the SEC Whistleblower Program into a model for how empowering whistleblowers can revolutionize government enforcement. Her tenure brought record payouts to whistleblowers, a streamlined award process, and a firm stand against any attacks on the public’s...

Tagged in: Financial and Investment Fraud, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Rewards,

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