Record-Breaking Whistleblower Award’s Implications for SEC-Regulated Companies
May 5, 2023
Securities Enforcement & Litigation partner and former chief of the SEC’s Office of the Whistleblower, Jane Norberg, was quoted in the Law360 article, “SEC Delivers Wake-Up Call $279M Whistleblower Award.” The story analyzes how the unprecedented amount of the award given to an unidentified whistleblower could increase concerns about an influx of tips and potential private retaliation lawsuits.
Norberg noted that the magnitude of the award should serve as a signal to companies under SEC regulation, emphasizing the importance of promoting internal reporting channels to allow for internal investigations before issues are reported to the SEC.
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