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SEC Awards Nearly $1 Million to Whistleblower Who Provided High-Quality Tip
The U.S. Securities and Exchange Commission (SEC) announced in December that it was awarding a whistleblower with more than $900,000 for a tip that allowed the agency to bring multiple large enforcement actions against certain entities. The award marked the second in the span of a week — and the final award handed out in […]
SandRidge Energy Inc. Settles Whistleblower Retaliation Case
The U.S. Securities and Exchange Commission (SEC) recently announced that SandRidge Energy Inc., an Oklahoma City-based oil and gas company, has settled charges of illegal separation agreements and whistleblower retaliation. The company agreed to pay a fine of $1.4 million, but did not admit fault as part of the settlement. According to the SEC, SandRidge […]
Whistleblower Receives $5.5 Million Award for Providing Information to SEC
A recent corporate whistleblower who provided information to the U.S. Securities and Exchange Commission (SEC) about an ongoing fraudulent scheme targeting investors received a $5.5 million award from the agency. It marked the 38th award the agency has handed out since the program’s establishment in 2012. According to the SEC, the whistleblower was still employed […]
How to Enhance Your Company’s Due Diligence Process
Your company’s due diligence process requires a wealth of information to be effective, especially in a world in which global business has become increasingly prevalent. The following are some ways you can enhance your due diligence process: Adverse news search: Regulators suggest the inclusion of an adverse news search as part of any due diligence […]
Study Finds Benefits to Whistleblower Complaints for Corporations
A study from the University of Iowa indicates that financial wrongdoing within corporations tends to see a marked decrease after a major whistleblower complaint. Researchers looked at various companies’ financial reporting after they were involved in alleged improprieties. The data in the study was from the years 2003 to 2010. This was the first major […]
2016-2017 40th Annual Labor & Employment Law Conference
Fri, Mar 10, 2017 8:30 AM – 4:15 PM The Capital Hotel, Little Rock, AR Attend the 40th Annual Labor & Employment Law Conference and earn 6.5 CLE including 1 Ethics hour. This year’s event will cover topics of interest including: medical marijuana, an update on the 8th Circuit, retaliation, whistleblowing, changes to the I9, […]
Prudential Sued in Fake Account Scandal Involving Wells Fargo
For several months, Wells Fargo & Co. has been dealing with a fake accounts scandal that has made national news — and now the issue has extended to Prudential Financial, Inc. The company recently suspended its business operations with Wells Fargo after a whistleblower filed a lawsuit accusing the company of selling fraudulent life insurance […]
SEC Likely to Take More Enforcement Actions Against Public Companies
A recent report from the New York University Pollack Center for Law & Business and Cornerstone Research reveals enforcement actions on the part of the U.S. Securities and Exchange Commission (SEC) against public companies and their subsidiaries have increased at a faster rate than all other types of enforcement actions over the last four years. […]
Court Decision Indicates Privilege Claim Exists in an Internal Investigation Case
A recent court decision in Canada provided an interesting case study for whistleblower issues and post-accident investigations within businesses and organizations. Workplace accidents may result in work stop orders, prosecution, civil suits, workers’ compensation claims and administrative penalties. Because of this, employers have been increasingly likely to carry out “privileged” investigations to obtain legal advice […]
Whistleblower Collects Award Worth $900,000 from SEC
In the latest U.S. Securities and Exchange Commission (SEC) whistleblower award, an unidentified insider received $900,000 for his or her role in uncovering corporate or agency wrongdoing. According to the SEC, the whistleblower provided key information that played a role in helping the agency bring successful enforcement actions against several parties. The agency announced the […]
