SEC Awards Whistleblowers More Than $6 Million

The Securities and Exchange Commission today announced awards totaling more than $6 million to two whistleblowers who provided critical information and assistance in two separate covered actions. In the first order, the SEC issued an award of more than $3 million to a whistleblower who was solicited to invest in a product that they believed was being misrepresented. The individual expeditiously alerted the SEC to the potential misconduct, which prompted the opening of the investigation, and continued to cooperate with the SEC’s Enforcement staff. In the second order, the SEC awarded a whistleblower more than $3 million for providing information that prompted the opening of an investigation.