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Whistleblower Rewards

This archive displays posts tagged as including whistleblower rewards. You may also be interested in the following pages:

Page 27 of 102

NASAA Approves Model Whistleblower Award and Protection Act with Changes Recommended by Constantine Cannon Attorneys

Posted  10/2/20
Silhouette of People Around a Whistle
Earlier this year, the North American Securities Administrators Association (NASAA) proposed a Model Whistleblower Award and Protection Act that would help states bolster their securities enforcement by incentivizing whistleblowers.  Constantine Cannon attorneys Eric Havian, Michael Ronickher, and Chris McLamb teamed up with Alexis Ronickher of Katz Marshall & Banks LLP to comment on the proposal, encouraging NASAA...

Tagged in: Anonymity, CC Lawyers, Importance of Whistleblowers, Retaliation, SEC Whistleblower Reward Program, Whistleblower Case, Whistleblower Eligibility, Whistleblower Rewards,

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September 30, 2020

The SEC has announced that it has concluded a record-breaking fiscal year for its whistleblower program by awarding four whistleblowers a total of $5 million.  For providing critical information and evidence of hard-to-detect violations, and providing extensive and ongoing assistance to the investigation, two whistleblowers were awarded $2.9 million and $1.7 million respectively.  The remaining two whistleblowers were awarded nearly $400,000 for jointly providing a tip and additional assistance, including meeting with staff to help decipher key documents and identify key witnesses.  These awards cap the program’s record of 39 individual awards, totaling about $175 million, that have been granted in a single fiscal year.  Since the whistleblower program launched in 2012, the SEC has made awards to 106 individuals totaling about $562 million.  SEC

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

With over $136 million in Whistleblower Awards in 2020, the SEC Amends the Rules of its Whistleblower Program

Posted  09/25/20
Securities and Exchange Commission building with logo zoomed in
In a public meeting held earlier this week, the SEC approved - by a 3-2 vote - several changes to its remarkably successful whistleblower program. Most notably, the Commission withdrew a 2018 contentious proposal which would have authorized it to reduce the amount of money in rewards issued in large enforcement actions where at least $100 million were collected. Moreover, all five Commissioners recognized the...

Tagged in: Anonymity, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Rewards,

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September 25, 2020

The SEC has made two awards totaling over $2.5 million to whistleblowers who provided information regarding overseas misconduct.  Both whistleblowers reported the misconduct to internal compliance systems before reporting to the SEC.  In the case of the first whistleblower, who received over $1.8 million, the internal report resulted in an internal investigation and subsequent report to the SEC.  Meanwhile, information from the second whistleblower, who received $750,000, resulted in a successful enforcement action.  SEC

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

September 25, 2020

A multinational industrial engineering company headquartered in Germany has agreed to pay $22 million to settle allegations of violating the False Claims Act.  In order to avoid paying certain import duties over a six year period, Linde GmbH and its Houston-based subsidiary, Linde Engineering North America LLC knowingly misrepresented the nature, classification, and valuation of its merchandise, which is used in the construction of natural gas and chemical manufacturing plants.  The misconduct was first brought to the government’s attention by a whistleblower, who will receive a $3.7 million share of the settlement proceeds.  The defendant later made a partial disclosure to the government prior to the government’s disclosure of its investigation.  DOJ; USAO EDPA

Tagged in: Customs Fraud, FCA Federal, Misrepresentations, Whistleblower Case, Whistleblower Rewards,

Centric Parts - Customs Fraud ($8 million)

Constantine Cannon represented a whistleblower in a False Claims Act case alleging auto parts distributor Centric Parts misclassified brake pads imported from Asia to avoid millions of dollars of customs duties.  In July 2020, the company agreed to pay $8 million to settle the matter.  Our client (along with a second whistleblower) received a whistleblower award of 18.5% of the government's recovery.  Read more -- DOJ, CC.

Tagged in: Customs Fraud, FCA Federal, Government Programs Fraud, Multiple Whistleblowers and First-to-File, Whistleblower Case, Whistleblower Rewards,

September 22, 2020

Contractors Bechtel National Inc., Bechtel Corporation, AECOM Energy & Construction, Inc., and Waste Treatment Completion Company, LLC will pay $57.75 million to resolve claims that they violated the False Claims Act by overbilling the Department of Energy for work on the Hanford Waste Treatment Plant.  The investigation was initiated by four whistleblowers who reported overcharging by defendants on craft labor performed by electricians, millwrights, pipefitters, and other skilled trades workers, including billing for unallowable and unreasonable idle time caused by management failures in scheduling work.  The whistleblowers will receive $13.75 million from the settlement.  USAO ED WA

Tagged in: Contract Non-Compliance, FCA Federal, Government Procurement Fraud, Whistleblower Case, Whistleblower Rewards,

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