Bloomberg Law
March 27, 2019, 11:46 AM UTC

Wake Up Call: SEC Awards Whistleblowers $50 Million in JPMorgan Settlement

  • The Securities and Exchange Commission said it awarded two whistleblowers a combined $50 million, including $37 million, its third-highest whistleblower award ever. The $37 million went to a tipster who provided documents “akin to ‘smoking gun’ evidence.” The agency didn’t identify the company involved or the people getting the awards. (BLAW) However, law firm Labaton Sucharow, which represents one of the whistleblowers, said they provided information that helped the agency win a $267 million settlement with JPMorgan Chase & Co. over claims that the bank failed to inform wealthy clients of conflicts of interest in managing their money. ...

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