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Earlier this summer, the Securities and Exchange Commission issued a proposal that would give it greater discretion when making awards to people who blow the whistle on securities violations under the Dodd-Frank Act. Allowing it to offer larger awards in small cases would foster compliance in the industry, the agency says. It would pay for the increases by cutting into the very large awards paid out in a handful of cases each year.
SEC proposes changes to Dodd-Frank whistleblower award amounts
Insys Therapeutics to pay at least $150 in opioid kickback case
Pharmaceutical manufacturer Insys Therapeutics, Inc., has tentatively agreed to settle allegations by the U.S. Justice Department that it paid kickbacks to doctors in order to get them to prescribe its drug Subsys. The drug is an under-the-tongue spray containing the opioid fentanyl, which is some 100 times stronger than morphine. Subsys was intended to manage pain in cancer patients.
CFTC reports high whistleblower activity, dramatic payouts
Calling it a "transformative year" for its whistleblower program, the Commodity Futures Trading Commission (CFTC) announced recently that it has awarded whistleblowers more than $45 million in rewards for identifying illegal activity. This is a dramatic increase over prior years.
SEC issues $2.2 mln whistleblower award under 'safe harbor' rule
Under the Securities and Exchange Commission's "safe harbor" rule, securities law whistleblowers can receive awards even if they submit their information to another agency, as long as they submit it to the SEC within 120 days. When they do so, the SEC will treat the information as if it had been submitted properly in the first place.
Takata whistleblowers to get $1.7 million from bankruptcy fund
The Motor Vehicle Safety Whistleblower Act may not be completely up to speed, but three former Takata employees will still get their awards. They blew the whistle on the auto parts manufacturer in the largest recall in automotive history. The recall involves faulty air bag inflators installed by 19 automakers into millions of vehicles.
False healthcare claims could be worth $4 billion in damages
When we think of fraud we often think of fraud and enforcement, we often think of federal laws and agencies. However, a new health care fraud whistleblower case that is making headlines in New York City is being pursued under state law. What does the case entail and how is state law working in this case?
Portrait of a whistleblower
What kind of person contemplates blowing the whistle on his (or her) organization?
Coming forward with a qui tam action could land you an award
In some cases, doing the right thing can put you in an awkward position. Situations that could severely impact your employment may make you second guess whether you should report the wrongdoing you have noticed. However, not providing information could potentially put you in a more difficult situation later on. As a result, you may have to make a stressful decision as to how you want to handle the predicament.
Taking the risk of following your conscience
In New York and across the country, almost half of workers surveyed say they are aware of illegal or unethical practices in the workplace. You may be part of that group. In addition, you may belong to the 46 percent who keep their mouths shut because you are afraid someone at work will retaliate against you. You may fear for your job or even your personal safety if you question or report wrongdoing.
Four remedies for whistleblowers who suffer retaliation
Coming to the realization that an employer is engaged in wrongdoing is a difficult position for any employee. Employees in various professions have found themselves in this situation, but those who are working for the government may be particularly concerned about their own well-being if they call out their employer for violating the law.
