While few people truly want to put themselves out on the line and become a SEC whistleblower, based on the fact that there is a huge amount of turmoil that can come as a result, the plight of a whistleblower has become a lot less rocky. Six years ago, the Securities Exchange Commission enacted the whistleblower program, which lays out a bunch of protections for anyone that makes the decision to become a whistleblower. The basis of these protections are against any backlash from a company that may be getting exposed for corruption. This is extremely important to any potential person coming forward with this type of information, as many whistleblowers in the past have received a lot of intimidation and harassment from their employers, who were on the hook and being exposed. Not only are whistleblowers now protected from these types of things, but there is a great deal of money that can now be awarded to anyone that comes forward with information, which leads to sanctions against a company or organization. For example, if a person decides to shed light on something that is corrupt and sanctions are levied against that business or organization, the whistleblower will then be able to receive up to thirty percent of the overall sanctions. The SEC ends up saving a huge amount of money when these types of people come forward, while they are also cleaning up corruptio and providing protection and monetary incentives to whistleblowers.
The road may be a lot easier for whistleblowers, but in order to have a smooth case, obtaining an SEC whistleblower attorney is absolutely vital. There are plenty of lawyers out there that deal with a wide variety of cases, but finding an SEC whistleblower lawyer that works directly with these types of cases, day in and day out is crucial. There are so many people that have started coming out as whistleblowers these days that attorneys and even entire law firms have started to take on these cases full time. Because of this, you can get yourself a huge advantage by finding a lawyer that only deals with whistleblower cases. A recent case paid out seventeen million dollars to a whistelblower that decided to come forward, making this the second largest amount of money paid out. While seventeen million dollars may seem like a massive amount of money for this type of thing, the program has only been in force for a period of six years, so there are likely going to be many more huge payouts in the future. Jordan A. Thomas was able to get his client a huge amount of money in this instance, but you can bet there are more settlements to come.