Whistleblowing just became a lot more lucrative. The Securities and Exchange Commission announced its largest whistleblower award ever today, more than $14 million to an insider who helped recoup investor funds.
NEW YORK — A judge in New York approved one of two proposed settlements between units of Steven A. Cohen’s US$15-billion hedge fund SAC Capital Advisors and the U.S. Securities and Exchange Commission over civil charges related to insider trading.
The roughly US$14-million settlement is between the SEC and SAC’s unit Sigma Capital Management, where a former analyst, Jon Horvath, admitted to trading on non-public information about Dell Inc and Nvidia Corp.
Corporate tipsters could get multimillion-dollar rewards for reporting financial wrongdoing under a new program.Corporate whistleblowers could score multimillion-dollar payouts for reporting financial wrongdoing under a new program approved by U.S.
Editor's Note: The following post comes to us from Michael T. Jones, partner in the Litigation Department at Goodwin Procter, and is based on a Goodwin Procter client alert by Mr. Jones and Jennifer Chunias.
On June 12, 2013, the U.S.