SEC grants three joint whistleblowers a $12 million award

The Securities and Exchange Commission recently issued a $12 million award to three whistleblowers (“Joint Claimants”) who provided critical information that led to a successful SEC enforcement action.  According to the October 10, 2024 SEC order, the Joint Claimants received the award for providing “significant information and extensive ongoing assistance” that enabled SEC staff to expand the scope of the investigation and which led to additional charges in the covered enforcement action.  The ongoing assistance included several meetings with SEC staff, and the staff ultimately “relied heavily” on the information provided.  The size of the award also reflected that “certain . . . Joint Claimants suffered hardships as a result of their reporting.”  The order grants each claimant an equal share of the $12 million award.

SEC Press Release | SEC Order