Banks Face Ongoing FCA Threat Despite Likely Dip in Fines

December 2, 2014

Jordan A. Thomas discusses corporate whistleblowers and qui tam cases under the False Claims Act

According to the Justice Department, whistleblowers filed more than 700 qui tam actions in fiscal 2014, the second year in a row to top that number.

“Workers in the financial sector are starting to understand the potential rewards for reporting bad behavior at their firms,” said Jordan Thomas, the leader of Labaton Sucharow LLP’s whistleblower representation practice.

Labaton Sucharow has done surveys finding that financial services workers are becoming increasingly aware of the U.S. Securities and Exchange Commission’s whistleblower program, which Jordan helped develop.

“He [outgoing Attorney General Eric Holder] wouldn’t be suggesting that if he didn’t see the success of corporate whistleblowing in other areas,” he said.