The attorneys at Labaton Sucharow have worked hard to make sure that their clients are satisfied with what they have been able to do. They work with people to ensure that they are getting the most out of their whistleblower case and they have even made the decision to push cases forward that could have been risky. The attorneys know what they are doing and it shows in the way that they help their clients win awards no matter what they are trying to do or what information they are trying to report to the SEC and the proper authorities.
The success shows in that the attorneys recently helped one of their clients win the second largest award in the whistleblower program. They knew that they would be able to help the client but they were not sure what the reward would be. While thy knew that it was going to be big, they did not know that it would end up being the second largest. They hoped that the client would be satisfied and the case turned out well. The client was satisfied and the SEC was happy with the response and the information that they got from the client while they were doing the investigation.
Since the rewards are so large, attorneys can help the people who are doing it get rewards that are even better. This means that they know how to do the right things and say the right things for the client. They will help their client negotiate the terms of the reward and this will often lead to the client getting a bigger reward as a result. This has been a major blessing for people who wanted to just get something for talking about the things that they knew were going on within the SEC.
In the past, the SEC really struggled with making sure that people were able to tell information to others no matter what it was. They knew that there were illegal dealings going on but they did not know that these would lead to rewards for the people. They wanted people to tell them what was happening in a safe way. For this reason, the SEC created the SEC whistleblower program. It promises to protect anyone who comes to the SEC with information about anyone that is doing anything that they should not be doing while at the SEC.
Drastic times call for drastic measures, and that’s part and parcel to Congress’s enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This enactment came in 2010, on the heels of 2008’s financial crisis. Called the Great Recession, it makes sense that the Dodd-Frank Act represents the greatest financial reform legislation since the Great Depression.
The man most responsible for getting this legislation to the table is Jordan A. Thomas. Thomas previously worked for the SEC. He held two positions there. One was the Assistant Director. The other was Assistant Chief Litigation Counsel. The SEC division where Thomas worked was that of Enforcement. When the legislation he wrote as a result of 2008’s meltdown was enacted, he immediately switched gears. Now Thomas works as the leader of a group of SEC Whistleblower attorneys at Labaton Sucharow.
Labaton Sucharow is the first Whistleblower Representation Practice in the country. It offers legal representation for whistleblowers who are willing to take advantage of the protections offered by Dodd-Frank. Labaton Sucharow offers cost-free initial consultation. While they encourage clients to reveal their identity during this first consultation, that can be left anonymous. Anonymity is, in fact, the key component Labaton Sucharow brings to the table in such legal proceedings. Usually they will be aware of client identity, but if such a legal team as Sucharow takes on a client, the client need never reveal him or herself to the world. This allows them to take fullest advantage of their new rights under the Dodd-Frank Act.
Dodd-Frank ensures incentives for whistleblowers. These incentives come from recovered monetary sanctions which are in excess of one million dollars. Those and additional recoveries represent the incentive pool for whistleblowers. In conjunction with that are injunctions which protect employment, so that whistleblowers don’t lose their job by doing the right thing. Without anonymity, though a job may be retained, its atmosphere will be colluded in all likelihood. It’s impossible to legislate against people’s perceptions and actions. However, with legal representation, incentives can be maximized, and reputation maintained while underhanded business practices are curtailed, and the economy is strengthened.
It can be hard to choose the right course of action in situations where telling the truth puts a person’s career and social standing in jeopardy. With Dodd-Frank and Labaton Sucharow, the best of both worlds can be achieved. It’s going to take time for the economy to rebuild, but coming forward about unethical business practices can help.