April 01, 2020

SEC Whistleblowing After Dismissal

If the company you were working for let you go and you have information about potential securities violations that should be reported to the Securities and Exchange Commission (SEC), it’s very possible your employer knew you had this information and tried to fire you before you had the chance to report it.

Not only should the tip you have still be reported to the SEC, but you also might have the opportunity to sue your employer for whistleblower retaliation.

All About Retaliation

The Dodd-Frank Act provides protection from employer retaliation to whistleblowers who report tips to the SEC. The problem is that not all employers follow this rule, and they think they can get away with harassing, demoting, or firing an employee for simply doing the right thing.

If you reported your tip to the internal compliance program within your company before reporting it to the SEC and were subsequently fired, you could have a case against your employers for wrongful termination. In such a case, you can sue your former employers for lost wages, damage to your reputation, and an onslaught of other damages they could have avoided if they hadn’t broken the law.

Criteria for an Award

Despite the fact that you were dismissed from the company, if you have a tip about a securities violation within the organization, you can still report it to the SEC. Doing so can protect investors and public interests, and you could potentially become an award-winning whistleblower.

To win a financial award as a whistleblower, you must provide a tip that is both voluntary and original, meaning no one else can provide the tip before you and the SEC cannot have already begun to interview you about the violation before you report.

In addition, the SEC must be able to take enforceable action against the violating party and recover sanctions of at least $1,000,000—of which you could be entitled to between 10 and 30 percent, depending on how helpful your tip was.

Consult with an SEC Whistleblower Lawyer

Just because you were dismissed from your company doesn’t mean the information you have is unimportant to investors, the public, or other employees. You can still report to the SEC and hold your former employer accountable for any retaliatory behavior.

Reach out to a knowledgeable SEC whistleblower lawyer at Meissner Associates at your earliest convenience by calling our office at 1-866-764-3100 or filling out the secure contact form at the bottom of this page.