On July 19, 2022, the SEC announced an award of more than $17 million award to a whistleblower who provided critical information and assistance to the SEC in a covered action and related action.  (The order granting the award can be accessed here.)  The SEC noted that because the same information provided led to the success of the related action, the whistleblower is also entitled to an award based on amounts collected in the related action.

Creola Kelly, Chief of the SEC’s Office of the Whistleblower noted that “[t]oday’s award underscores the SEC’s commitment to rewarding meritorious whistleblowers who provide valuable information and exemplary cooperation that advance the agency’s enforcement efforts.”

Since issuing its first whistleblower award in 2012, the SEC has awarded approximately $1.3 billion to 278 individuals.

Photo of Steven J. Pearlman Steven J. Pearlman

Steven J. Pearlman is a partner in the Labor & Employment Law Department and co-head of the firm’s Whistleblowing & Retaliation Group. Steven’s practice focuses on defending complex employment litigation involving claims of discrimination, harassment and retaliation; wage-and-hour laws; breach of employment contract…

Steven J. Pearlman is a partner in the Labor & Employment Law Department and co-head of the firm’s Whistleblowing & Retaliation Group. Steven’s practice focuses on defending complex employment litigation involving claims of discrimination, harassment and retaliation; wage-and-hour laws; breach of employment contract; and restrictive covenants (e.g., non-competition agreements). Steven is also at the forefront of defending whistleblower retaliation claims, and routinely conducts investigations arising from whistleblower reports. He has successfully tried cases to verdict in Illinois, Florida and California, and defended what is reported to be the largest Illinois-only class action in the history of the U.S. District Court for the Northern District of Illinois. He has also testified in defense of his investigations in federal court.