If you have information regarding a securities violation, you could be entitled to compensation. Congress implemented the whistleblower program to encourage individuals with information on securities crimes to come forward and file a report.
Those with information about securities manipulation, Ponzi schemes and similar violations can collect a reward if they meet all the requirements, and you are probably wondering if you need an SEC whistleblower attorney on your side. Some people opt to move forward without help and achieve decent results, but that is not always the case.
Reporting a violation can get complicated, so having a skilled legal expert on your side makes a difference.
How to File a Report
Filing a report is not as hard as a lot of people think, and you only have to go to the SEC reporting site or mail a form to the office. Include as much information as possible in your report to get the best odds of collecting compensation. List the names of the people involved in addition to dates, times and possible witnesses.
Before you submit your tip for review, indicate that you are doing so under the whistleblower program for reward eligibility.
What Happens After I File a Report?
Filing a report about potential securities violations is a complex process, and you are likely wondering what will happen after you file the report. After you make the submission, your report goes to an investigative team pending further review.
If the team believes you gave enough information to move forward and open a case, they begin an official investigation and look for evidence supporting the claims. All reports that lead to sanctions against the pending party appear on the U.S. Securities and Exchange Commission’s website. You have 90 days after the SEC publishes the action to apply for your reward.
Additional Considerations
Since making a report and waiting for the U.S. Securities and Exchange Commission to post actions taken against the offender is a complex process, you could make mistakes that harm your odds of getting a reward. If you hire an SEC whistleblower attorney, your legal expert can review your case and ensure that you don’t miss any steps along the way.
The Labaton Sucharow law firm has helped its clients collect the highest rewards in the history of the program. They protect your rights and defend you if the company for which you work tries retaliating against you. Standing by your side each step of the way, we strive to meet your needs and help you achieve the best outcome possible.