SEC Awards Over $2.5 Million to Joint Whistleblowers for Detailed Analysis That Led to Multiple Successful Actions

The Securities and Exchange Commission today announced an award of over $2.5 million to joint whistleblowers whose tip based largely on highly probative independent analysis of a public company’s filings led to several successful enforcement actions. In addition to their tip, the whistleblowers provided helpful assistance early in the investigation, which helped save Commission time and resources. “Detailed analysis by outsiders of companies can have a significant impact on the enforcement of the federal securities laws,” said Jane Norberg, Chief of the Office of the Whistleblower. “Today’s award demonstrates the Commission’s commitment to awarding individuals who provide high quality independent analysis that leads to successful enforcement actions.” The Commission has awarded approximately $510 million to 92 individuals since issuing its first award in 2012.