SEC Fraud

Financial fraud hurts the public. Whistleblowers can stop it.

Insider trading. Securities scams. Market manipulation. Whistleblowers help our government and protect the public from SEC fraud and other financial schemes that can destroy life savings and throw the nation’s economy into turmoil.

We have learned as a nation how fraudulent financial practices can destroy hard-earned nest eggs, cheat retirees and investors, and even cause economic meltdowns like the one that triggered the Great Recession.

People with knowledge of corporate financial wrongdoing — and the ethical conviction and moral fortitude to bring it to light — provide an important public service and may even help prevent the next Enron, Madoff, or other major economic crisis.

Federal law recognizes that whistleblowers who expose SEC fraud provide a valuable public service. For this reason, the Dodd-Frank Wall Street Reform and Consumer Protection Act provides tipsters who bring unlawful financial activities to the attention of the Securities and Exchange Commission (SEC) with financial incentives and protection from retaliation by culpable employers.

The Dodd-Frank Wall Street Reform and Consumer Protection Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) provides incentives, protections, and procedures for people who report information about securities-related fraud to the Securities and Exchange Commission (SEC).

Created in the spirit of the highly successful False Claims Act, Section 922 of Dodd-Frank entitles whistleblowers who provide the SEC with information leading to a successful enforcement action to awards of 10 to 30 percent of sanctions of $1 million or more.

Dodd-Frank also provides protections for informants from employers. The law prohibits employers from retaliating against employee-whistleblowers and provides whistleblowers with legal recourse if their employers fire them, demote them, or otherwise make their work life difficult. They are protected from retaliation even if the employer hasn’t committed any securities law violations and/or the SEC never files a case against the employer.

The law also gives tipsters who have suffered retaliation the right to file a lawsuit against the employer in federal court. Whistleblowers who prevail are entitled to reinstatement, double back pay, litigation costs and fees, and attorneys fees. The SEC might also separately take action against the employer for retaliation as part of its enforcement action.

Examples of SEC fraud include the following:

Expose financial fraud. Protect the public interest. Waters & Kraus can help.

If you have knowledge of your employer’s or another company’s or individual’s financial misconduct, the attorneys at Waters & Kraus can help you navigate the legal waters to report the wrongdoing and protect your rights against retaliation by the wrongdoer. Our attorneys can also help you seek and collect award monies to which you may be entitled.

Waters & Kraus has a history of assisting whistleblowers across the country successfully expose fraud against the government in False Claims Act cases and receive compensation for their efforts. Waters & Kraus can put its extensive experience representing informants to work in protecting your rights and helping you to receive the financial award you deserve for your courage in exposing financial fraud.

Informants can provide anonymous tips to the SEC if they do so through an attorney. Waters & Kraus can help you evaluate the information you have about financial misconduct, determine whether you should first report it to your employer, and provide the information to the SEC. We will then stay apprised of the SEC’s actions based on your information and seek an award on your behalf should the information you revealed result in a sanction of $1 million or more. We can also help you understand and protect your rights against retaliation and represent your best interests should your employer violate your rights.

To learn more about whistleblower representation by Waters & Kraus, or to have one of our attorneys review your potential case, contact us or call 800.226.9880.

What is Qui Tam?

Under the Federal False Claims Act (FCA), whistleblowers have the power to save taxpayers billions of dollars each year by taking a stand against fraud. The U.S. False Claims Act allows private citizens to file suits on the government’s behalf when the government has been defrauded through any federally funded contract or program. The qui tam provisions of the False Claims Act allow these citizens to recover damages. A number of states and the city of Chicago also have laws similar to the False Claims Act to protect against fraud. To learn more about the different types of fraud … READ MORE

Celebrating Whistleblowers and Qui Tam Attorneys

July 30, 2019 National Whistleblower Appreciation Day was established to acknowledge and celebrate the courageous people who expose misconduct and speak up against fraud. Last year, the U.S. Senate recognized July 30th as “National Whistleblower Appreciation Day” to honor the anniversary of the…

Dallas Attorneys Honored on Texas Super Lawyers Rising Stars List

August 27, 2019 This year, Dallas attorneys Caitlyn Silhan, Christopher Johnson, Erin Wood, and Patrick Wigle were selected for the 2019 Texas Super Lawyers Rising Stars list. These four attorneys were all selected based on the outstanding work they do for plaintiffs. These attorneys represent a variety of practice areas, including civil litigation, products liability, and general personal injury. Only the top 2.5 percent of attorneys in Texas are selected to the list. To be considered, each candidate must be 40 years old or younger and have practiced for 10 years or less. About Caitlyn Silhan Caitlyn Silhan was selected to the 2019…

What are my chances?

That’s the first question everyone asks. The truth is it’s impossible to know. But we can tell you this. Waters Kraus & Paul has what it takes to fight against big corporate interests and win. That’s why we’ve taken more mesothelioma trials to verdict than any other firm. And that’s why we’ve recovered more than $1.3 billion for clients like you. Do you think you have a case? Contact us now to speak with an attorney.

Call 800.226.9880