Whistleblower

Finkelstein Thompson represents “whistleblowers' who report corporate fraud or other violations of law to the SEC, CFTC or other government agencies. While whistleblowers have always played an important role in uncovering corporate wrongdoing, laws have been passed that have expanded the monetary benefits and protections for whistleblowers who come forth with information.

Benefits of retaining Finkelstein Thompson for "whistleblower" disclosures:

• Large financial rewards - SEC and CFTC awards the whistleblower up to 30% of fines or sanctions over $1 million
• No financial risk - FT accepts all "whistleblower" cases on a purely contingent fee basis, accepting a fee only out of the compensation ultimately paid to the whistleblower
• Anonymous reporting - whistleblowers may report fraud or violations through FT as counsel without identity disclosure and still obtain the same rewards

SEC Whistleblower Program

Through the passage of the Dodd-Frank Act, the U.S. Securities and Exchange Commission (“SEC”) has enacted a whistleblower program, intended to reward people who provide evidence of corporate fraud or other wrongdoing.While the SEC has always received tips and complaints from whistleblowers, the passage of the Act provides extra incentives and protection for whistleblowers that have information leading to a successful prosecution. These rules have increased the monetary benefits that flow to the whistleblower for a successful prosecution, streamlined the process for presenting evidence, and added additional protection from employer retaliation. If you have information concerning potential corporate wrongdoing that leads to a successful prosecution and sanction in excess of $1 million, you have the right to receive between 10 and 30 percent of the total amount of sanctions obtained by the SEC, resulting in thousands or millions of dollars as a reward for coming forward.

CFTC Whistleblower Program

Also as a result of the Dodd-Frank Act, the U.S. Commodities Futures Trading Commission (“CFTC”), which regulates the U.S. commodities and derivatives markets, has substantially identical regulations as the SEC for rewarding and protecting whistleblowers, including the provision mandating that whistleblowers receive between 10 and 30 percent of any monetary recovery for a successful prosecution resulting in more than $1 million in sanctions.A key distinction with the CFTC program is that unlike the SEC rules, the CFTC allows employees of public accounting firms and outside auditors to report information on any violations.Moreover, the CFTC, unlike the SEC, allows a whistleblower to “double dip”, meaning that whistleblower may be eligible for a CFTC reward even if the whistleblower already received a reward from the SEC for the same information.

 Qui Tam Litigation

The firm maintains an active practice under the Federal False Claims Act (also known as the "Qui Tam" litigation).  Through representation of whistleblowers who have independent knowledge of government contract fraud, the firm seeks to secure the return of millions of dollars to federal and state treasuries. Currently, the firm has investigated and filed qui tam claims in connection with the student loan industry. 

Finkelstein Thompson is available to consult with you regarding your information, and help you determine which of the programs best suits the facts you provide, and present your claim before the appropriate agency.The firm has extensive experience litigating against individuals and companies accused of fraud or other wrongdoing, and has recovered over $1 billion from companies accused of fraud and other corporate wrongdoing. If you have information, please contact us to discuss.There is no cost to you, and any communications will be kept strictly confidential.