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The U.S. Securities and Exchange Commission has awarded $17 million—its second largest award yet—to a former company employee whose detailed tip gave the regulator a major leg up in an investigation and enforcement proceeding. The award was the largest announced since a September 2014 payout of more than $30 million.
The anonymous tipster was represented by Labaton Sucharow LLP, which has for several years dedicated a practice group to those seeking to flag concerns to the government. Labaton Sucharow helped the whistleblower approach the SEC with the information.
New York