During this most recent case, the client helped provide a lot of significant information to the law firm who then used it during a litigation case. In this most recent case, Labaton Sucharow was able to convince court officials that wrongdoing did take place in the securities industry and that the client as well as the victims should be awarded. The whistleblower client was able to help expose wrongdoing by a major player in the finance industry and then make them liable for unethical behavior. While this whistleblower client was instrumental in exposing unethical activity in the finance industry, they have decided to remain anonymous for their own protection.
The program that the whistleblower client and law firm Labaton Sucharow has taken part in is known as the SEC Whistleblower Program. This is a program that was introduced by Congress and the Securities and Exchange Commission back in the year 2009 shortly after the financial meltdown of the Great Recession. The program was intended to help sanction anyone who uses unethical practices to hurt investors in financial securities transactions. With this new program in place, anyone who is willing to report wrongdoing can get the legal representation they need in order to seek monetary awards as well as punish those who engage in unethical activity. Read more: http://www.secwhistlebloweradvocate.com/program/program-overview
With the inception of this program, law firms such as Labaton Sucharow are able to provide legal representation for anyone who is looking to expose wrongdoing in the financial services industry. Over the last six years, a number of individuals and organizations have come forward to report unethical activity in the finance industry and make wrongdoers accountable. The program works by having an individual report unethical conduct due to being financially hurt in a transaction and then seek litigation to receive monetary damages. Once this is done, law firms such as Labaton Sucharow will use a number of experts as well as a SEC whistleblower attorney represent the client. Then the SEC whistleblower lawyer will present the case to the court and hopefully win the case for the client.