If you are interested in pursuing a whistleblower lawsuit, contact us now to find out if you qualify for a whistleblower payout.
Whistleblowers display courage and integrity in reporting corporate crimes such as fraud and corruption. While there are laws in place to protect whistleblowers, it’s no easy feat to take a stand against a massive corporation and help bring them to justice. The US Securities and Exchange Commission (SEC) recognizes the challenges whistleblowers may face, and has established a whistleblower program and reward to incentivize people to report bribery and corruption. This program has specific criteria defining how to file a whistleblower complaint.
These rewards pay whistleblowers ten to thirty percent of the fines exceeding one million dollars imposed on the guilty corporation. On average, this is an award of around five million dollars. However, there are many rules and guidelines, and it’s key that you follow them exactly to earn a reward. Learn the best practices to protect yourself and your award potential when pursuing a whistleblower lawsuit (a whistleblower lawsuit in this context means participating in the SEC whistleblower rewards program).
1. Schedule a Consultation with an Attorney
Speaking with an experienced attorney is vital to successfully reporting corporate crimes, especially against a company that you currently work for. Legal experts can instruct you how to file a whistleblower complaint in a way that doesn’t compromise your employment, as well as confirm the strength of your case and evidence.
Moreover, talking with anybody else, especially your employer, regarding your whistleblower complaint can not only compromise your eligibility for an award, but it can also invite potential retaliation against you. This is the case regardless of whether your employer has a “confidential” whistleblower hotline. FBR provides consultations that are entirely free of charge to those who complete our whistleblower evaluation. There is nothing to lose by taking the time to speak with an attorney regarding how to file a whistleblower complaint, as you’ll be protected by both attorney-client privilege as well as our legal expertise on the subject matter.
Additionally, FBR will protect you from retaliation by helping you maintain confidentiality throughout a whistleblower lawsuit which is the best way to avoid retaliation from the company. In addition to being free, the consultation can be completely anonymous. The SEC will also help maintain your anonymity, but this can be trickier when filing a claim without an attorney. Enlisting the help of an attorney in reporting the SEC or FCPA violation is always a good idea, and the attorney will know how to file a whistleblower complaint at your behest.
2. Act Quickly
Only the first person to provide information on a corporate crime that leads to formal charges will earn the SEC payout. So, when it comes to SEC and FCPA violations, the faster you take action against the guilty corporation, the more likely you are to earn an award. The process can be complicated and overwhelming, but enlisting the right legal help can shorten the timeframe as well as increase your chances for success. Experienced whistleblower attorneys, like those at FBR, are well-versed in how to file a whistleblower complaint and have brought corruption cases both in and out of the United Kingdom. We can prepare your submission to the SEC on your behalf.
Furthermore, there are specific time limits in which the SEC and Department of Justice (DOJ) are able to prosecute the allegations contained in a whistleblower lawsuit. There are some violations for which they’ll have as few as five years to prosecute. If the SEC or DOJ do not have enough time to investigate your reported violation, then it’s unlikely any award will come of it. Understanding how to file a whistleblower complaint is important– delays in reporting claims can result in a lesser payout even if successful.
3. Do Your Research
Regardless of whether you choose to report a corporate crime on your own or with the assistance of an attorney, it’s vital to do your research. The SEC and DOJ will expect you to know about the specific crime you are reporting, whether it’s an FCPA violation or another corporate crime investigated by the SEC. You can consult your attorney to gain this information or find trustworthy resources online to learn how to recognize violations.
When researching how to file a whistleblower complaint, it’s an important step to bolster your knowledge of the specific crime you’re reporting. Crimes that lead to FCPA whistleblower lawsuits include bribery and accounting violations. Bribery refers to offering payment or anything of value to gain or retain business. Anything of value is open-ended and depends on the company and the situation. Examples in addition to money include stock, equipment, vehicles, or technology.
Accounting violations are often failures to remain compliant with anti-bribery policies. Inaccurate books and records, as well as a failure to conduct appropriate audits of payments, violate the FCPA. In learning how to file a whistleblower complaint, you should note that even if the U.S. government cannot prove a bribe has taken place, failing to implement sufficient anti-bribery compliance policies is enough to be held liable for improper payments. SEC violations also include securities fraud, such as Ponzi schemes, stock manipulation, embezzlement, and more.
4. Compile Evidence and Report Now
Evidence can be emails, documents, and anything else that strengthens your whistleblower lawsuit. If you have signed a Non-Disclosure Agreement, an experienced attorney can help you navigate your unique situation. When reporting any violations, be cautious about how to file a whistleblower complaint. There are legal protections for whistleblowers who file a claim with the U.S. government, but these protections do not extend to those who report only to their employer. Moreover, different federal regulators have unique award programs, and certain regulators will offer higher payouts than others.
