Labaton Sucharow LLP is the first U.S. practice solely dedicated to representing Securities and Exchange Commission (SEC) whistleblowers. Through the efforts of Jordan Thomas, noted SEC whistleblower attorney and his team of experts, a client who reported wrongdoing in an extremely high-profile case has been appropriately awarded with the second largest “whistleblower” payout to date. Slightly more than $17 million was paid and justice was well served in this instance of unethical practices within the financial services industry.
In the six years of its existence, the SEC whistleblower program has secured other awards and helped people find justice in the financial services industry. The word is out, when you need real help, contact Labaton Sucharow and let a SEC whistleblower lawyer handle it for you. Those in the financial services industry who think laws and ethics are for other companies now understand that they have to follow the same rules as everyone else, or suffer the consequences if they are caught.
Jordan Thomas’s client didn’t have to worry about retaliation when he/she stepped forward with evidence because Labaton Sucharow keeps any personal information strictly confidential. The future is a brighter place now for investors because firms who might otherwise do them wrong will at least have to think twice first. Thomas says this is just the beginning. Now that people know they don’t have to be afraid, more will step forward and report wrongdoing in financial services wherever it’s found.
Mr. Thomas was the SEC attorney for the first officer of a public company to receive a whistleblower award for stepping forward to report “foul play.” He also worked on the first instance of successfully charging a company with retaliation against a client for “blowing the whistle on them.” Now that fear has been taken out of the equation for whistleblowers as well as the incentives of protection and monetary benefits offered for their bravery, the industry will never be the same again, but that’s good news for the average investor who really can’t afford to lose their life savings on a lie.
The horizon of the financial industries world changed in 2010 when congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act. Labaton Sucharow became the first law firm to begin focusing exclusively on the protection of whistleblowers and forcing companies to pay for their wrongdoing. Jordan Thomas himself played a key role in the development of the Whistleblower Program including presenting the draft for its proposed legislation and final implementing rules. Anyone with money to invest in the financial market can thank Mr. Jordan that now, their cash is safer than it was before.