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SEC Whistleblower Reward Program

This archive displays posts tagged as relevant to the SEC Whistleblower Reward Program. You may also be interested in the following pages:

Page 1 of 33

Senator Grassley Wants Zuckerberg to “End the War on Whistleblowers”

Posted  04/18/25
megaphone
By the Constantine Cannon Whistleblower Team Senator Chuck Grassley (R-Iowa) continues his fierce work advocating for whistleblowers with his recent outreach to Meta Chairman and CEO Mark Zuckerberg demanding answers to Meta’s treatment of the latest whistleblower to speak out against the social media behemoth. In a letter he wrote on April 14, Grassley asked Zuckerberg to detail Meta’s reported efforts to...

Tagged in: Importance of Whistleblowers, SEC Whistleblower Reward Program,

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Former CEO of e-Commerce App nate Charged with Securities Fraud for Allegedly False Claims About AI

Posted  04/17/25
ecommerce shopping on device
By the Constantine Cannon Whistleblower Lawyer Team This year, we’ve been tracking the notable spike in enforcement actions concerning AI washing or other AI-related fraud. These types of schemes generally involve an individual or company allegedly deceiving investors with misstatements or omissions about AI use or capabilities to make the company appear better than it is. Another such enforcement action came...

Tagged in: SEC Whistleblower Reward Program, Securities Fraud,

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Founder of Tadrus Capital, a Supposedly AI-Driven Hedge Fund, Pleads Guilty

Posted  03/11/25
Investments graphic
Last month, Mina Tadrus, founder and operator of the hedge fund Tadrus Capital LLC, pled guilty to investment adviser fraud in connection with a scheme to defraud Tadrus Capital’s clients and investors of over $5 million. According to the government, “Tadrus marketed interests in Tadrus Capital LLC to investors based on false promises that he would employ artificial intelligence-driven trading strategies that...

Tagged in: SEC Whistleblower Reward Program,

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Top 10 SEC Recoveries for 2024

Posted  01/24/25
Securities Exchange Commission Logo on Building
It was not necessarily the biggest year for Securities and Exchange Commission (SEC) securities fraud recoveries, with only a handful in the hundred-million-dollar range and only one in the billions.  But it was a very active year nonetheless, with the SEC under Gary Gensler pursuing a very aggressive approach to enforcing the securities laws. With Gensler's recent departure, and Paul Atkins taking the reins, all...

Tagged in: SEC Whistleblower Reward Program, Securities Fraud, Top 10,

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AAR Corp. to Pay $55 Million to Settle FCPA Foreign Bribery Charges

Posted  12/23/24
person pocketing money in a business suit
On December 19, AAR Corp. agreed to pay $55 million to settle Department of Justice (DOJ) and Securities and Exchange Commission (SEC) charges of violating the Foreign Corrupt Practices Act (FCPA) by paying bribes to secure business from state-owned airlines in Nepal and South Africa.  Apparently, the Illinois-based aviation services company made roughly $24 million in profits from the bribery scheme. The FCPA...

Tagged in: DOJ Whistleblower Awards Pilot Program, SEC Whistleblower Reward Program,

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SEC Slaps Becton Dickinson with $175 Million Penalty for Misleading Investors About Alaris Infusion Pump

Posted  12/18/24
Stethoscope Placed Down
On December 16, the Securities and Exchange Commission (SEC) announced New Jersey-based medical device maker Becton Dickinson agreed to pay $175 million to settle charges of (i) misleading investors regarding its Alaris infusion pump, and (ii) overstating its income by ignoring the costs of fixing multiple software flaws with the pump.  The pump delivers fluids, medications, and blood to hospital patients and...

Tagged in: SEC Whistleblower Reward Program,

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Another Clinical Trial Fraud Success for Government Enforcement: Bring on the Clinical Trial Fraud Whistleblowers

Posted  12/11/24
colorful drugs
On December 10, the Department of Justice (DOJ) announced the latest clinical trial fraud enforcement success with the conviction of two chief executives for lying to investors about the supposed promise of an investigational drug called leronlimab their companies were promoting to treat HIV and COVID-19.  It follows two recent Securities and Exchange (SEC) actions against biopharma companies and their executives for...

Tagged in: Clinical Trial Fraud, Pharma Fraud, SEC Whistleblower Reward Program,

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Trump Nominates Paul Atkins to Lead SEC -- What Will It Mean for Whistleblowers?

Posted  12/9/24
Securities Exchange Commission Logo on Building
On Wednesday (December 4), President-elect Donald Trump nominated Paul Atkins to take over the helm of the Securities and Exchange Commission (SEC) when Gary Gensler steps down in January.  Trump posted the announcement on his Truth Social platform where he hailed the incoming SEC Chief as "a proven leader for common sense regulations," who "believes in the promise of robust, innovative capital markets that are...

Tagged in: SEC Whistleblower Reward Program,

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SEC Issues Annual Whistleblower Report Showing Continued Strength of Whistleblower Program

Posted  12/4/24
SEC logo on building
The Securities and Exchange Commission (SEC) recently issued its Annual Report to Congress detailing the results of the SEC Whistleblower Program over the past fiscal year.  Under the SEC’s program, individuals who provide information to the agency concerning potential securities violations that leads to a successful enforcement action may receive up to 30% of any government recovery. Here are the highlights of...

Tagged in: SEC Whistleblower Reward Program, securities violations,

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SEC Announces Settled Charges Against Pharma Company and Executives for Misleading Investors about FDA Clinical Review of Drugs

Posted  12/3/24
Securities and Exchange Commission seal on building
The SEC continues to go after pharmaceutical companies for securities law violations in connection with misleading investors.  The most recent example is the SEC’s settled charges against a publicly traded biotherapeutics company called Kiromic BioPharma, Inc. (KRBP), the company’s former CEO, and its former chief financial officer. In this case, Kiromic was working on developing two cancer fighting drugs...

Tagged in: FDA Fraud, SEC Whistleblower Reward Program, Securities Fraud,

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