Whistleblower Developments is a periodic report covering significant cases, decisions, proposals, and legislation related to whistleblower statutes and how they may impact your business. Recent developments include:
FY 2022 Annual Report
SEC Amends Complaint Against Defendant Executive to Include Allegations of Impeding and Retaliating Against a Whistleblower
SEC Issues Several Significant Awards in Fourth Quarter of 2022
Second Circuit Affirms Rejection of Whistleblower Award to Claimant Who Pleaded Guilty to Bribery Charges
District Court Rules that Terminating Bank Employee Involved in Scheme to Open Bank Accounts to Meet Sales Quotas Did Not Violate SOX
On November 15, 2022, the SEC released its annual report for Fiscal Year (FY) 2022. Fiscal Year 2022 was another strong year for the SEC’s Whistleblower Program, following the program’s record-breaking year in FY 2021. In FY 2022, the SEC awarded approximately $229 million across 103 awards. Though falling well short of FY 2021’s monetary total ($564 million in awards), FY 2022 was the program’s second highest year in dollars and number of awards, and the program’s highest year in number of tips — more than 12,300. The SEC has now paid more than $1.3 billion across 328 awards since the program’s inception.
The report discussed the SEC’s adoption of two amendments to the whistleblower program rules, which we previously summarized in our most recent newsletter. The...
Schubert Jonckheer & Kolbe LLP advises Vistagen Therapeutics, Inc. (NASDAQ: VTGN) investors that the firm is investigating potential legal claims arising from alleged false statements about Vi...