Practice Areas
If you are aware of securities violations or have suffered retaliation as a result of reporting such activities and wish to know your rights and obligations, contact Rob to arrange a free and confidential initial consultation. (CONTACT ROB HERE)
The Dodd-Frank Act Public Law No. 111-203 (codified at 12 U.S.C. 5301 et seq.).offers significant incentives to whistleblowers who provide "original information" regarding securities and commodities law violations to the U.S. Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). The Dodd-Frank Act applies to all security law violations and includes bribes made to foreign government officials to win business or influence their decision-making in violation of the Foreign Corrupt Practices Act of 1977 (FCPA). Under the Dodd-Frank Act, whistleblowers may receive up to 30% of the Government's recovery exceeding $1million.
Original information is defined as information that: "A) is derived from independent knowledge or analysis of a whistleblower; B) is not known to the Commission from any other source, unless the whistleblower is the original source of the information; and C) is not exclusively derived from an allegation made in a judicial or administrative hearing, in a governmental report, hearing, audit, or investigation, or from the news media, unless the whistleblower is a source of the information."
The Dodd-Frank Act also creates a private right of action for employees who have suffered retaliation in response to the employee reporting violations, assisting in any investigation by the Commission or making disclosures required or protected under the Sarbanes-Oxley Act, and remedies may include reinstatement, double back pay with interest, litigation costs and reasonable attorney's fees.
Retaliation claims may not be brought more than six years after the date when the retaliation occurred, or three years after discovery of the material facts, whichever is later, otherwise the claims may be barred by the statute of limitations. It is therefore important to act promptly to protect your rights under the Dodd-Frank Act.
If you are aware of securities violations or have suffered retaliation as a result of reporting such activities and wish to know your rights and obligations, contact Rob to arrange a free and confidential initial consultation. (CONTACT ROB HERE)