Recent Whistleblower Successes

Following is a list of recent whistleblower awards.

CFTC Awards Largest Ever Award to ISDAFIX Whistleblower The CFTC will award a record $45 million to a single anonymous whistleblower for his assistance in investigating the widespread illegal manipulation of the ISDAFIX, which is an important price-setting mechanism used in the private derivatives market. Find news coverage here.
Oversees Whistleblower Awarded Almost $4 Million An oversees whistleblower, whose assistance resulted in a successful enforcement action, was awarded almost $4 million by the SEC. This marks the third time in four years that an oversees whistleblower has been granted a significant award. Find the SEC Press Release here, and news coverage here.
Merril Lynch Insiders to Receive Largest SEC Awards Ever Two Merrill Lynch insiders will split a $50 million award, and a third will receive $33 million - the biggest payout ever. The whistleblowers reportedly helped aid the agency in its case against Bank of America Corp. Find the SEC Press Release here, and news coverage here.
"Safe Harbor" Whistleblower Receives $2.2 Million

The SEC announced a $2.2 million award to a "former company insider" turned whistleblower. The whistleblower is the first to receive an award under the "safe harbor" statute of Dodd-Frank, which allows for a whistleblower to be eligible for an award if he redirects his tip from whichever federal authority to the SEC within 120 days.

Find the SEC Press Release here, and news coverage here.

JPMorgan Chase & Co.

U.S. futures regulators awarded a record $30 million whistleblower award as part of a case against banking giant, JP Morgan Chase. The bank agreed in December 2015 to pay a record $367 million asset-management settlement with the CFTC and SEC for failing to inform wealthy clients of conflicts of interest. 

In a preliminary decision in July 2017, the SEC awarded one whistleblower $48 million, and another $13 million. And in February of 2018, the CFTC added another $30 million whistleblower award.

Find more information here.

Whistleblower Receives $1.5 Million Award An SEC whistleblower received a $1.5 million award for providing information and assistance to the commission during an investigation. The award, however, was reduced due to the fact that the whistleblower waited to report the misconduct, and made money during the delay. Find the SEC Press Release here.
Whistleblower who Uncovered Illegal Loan Scheme Awarded nearly $2.4 Million Federal Officials announced an award of almost $2.4 million for a whistleblower who helped reveal that a mortgage company was engaging in writing deficient loans that were insured by the federal government. Find the press release here, and news coverage here

Foreign Whistleblower Awarded $4.1 Million Whistleblower Tip

The SEC announced this past December a $4.1 million whistleblower award for notifying the SEC to a long-running securities fraud committed by his employer, and continuing to provide important information throughout the investigation.

The whistleblower is a non-U.S. national working oversees. This is not the first instance of the SEC awarding a non-U.S. national, but it is significant nonetheless.

Find the SEC Press Release here, and news coverage here.

Wells Fargo Whistleblower Receives $5.4 Million

Wells Fargo must pay a former manager $5.4 million, and give him his job back, said a federal regulator in April. The former manager was fired in 2010 after reporting to his supervisors and the bank’s ethics hotline what he believed to be fraudulent behavior. 

OSHA, the Occupational Safety and Health Administration, said that this amount covers back pay, compensatory damages, and legal fees.

Find the OSHA Press Release here, and news coverage here.

Medical Whistleblower Receives $25 Million in Whistleblower Retaliation, Wrongful Termination Suit

A former regional sales manager at Cardiovascular Systems was awarded $25.1 million by a jury in the Superior Court of California for the County of Los Angeles. The plaintiff, Steven Babyak, was fired in June 2015 after raising concerns over issues relating to patient safety and violations of state and federal law.

Find more information here.

Railroad Whistleblower has $1.25 Million Award Upheld 

Michael Elliot, a 16 year veteran locomotive engineer, was fired after reporting complaints to his employer and the Federal Railroad Administration that overgrown vegetation had the potential to cause catastrophic signal malfunctions.

In 2015, a federal jury in Tacoma awarded Mr. Elliot $1.25 million for retaliation and termination. In March of 2018, a three-member panel from the 9th Circuit Court of Appeals upheld the verdict.

Find more information here.
Florida Doctor Awarded $2.85 Million in Whistleblower Retaliation, Wrongful Termination Suit

A Florida doctor won a $2.85 million whistleblower lawsuit against Florida Hospital. The jury found that Dr. Ahmad Chaudhry was terminated for raising concerns about dangerous practices by the former director of the heart and lung transplant insitute, which resulted in an abnormally high death rate.

Find more information here.
Whistleblower Receives $2.1 Million Award A whistleblower was awarded $2.1 million from the SEC for providing information that directly led to "multiple successful enforcement actions." Find the SEC Press Release here.
Maritime Whistleblower's $1.1 Million Award Upheld A former ship captain who was fired after reporting safety violations on his ship was awarded a $1.1 million award following a 2015 trial. The Administrative Review Board in the Department of Labor has affirmed the award. Find more information here.
Foreign Whistleblower awarded $70,000 by CFTC The Commodity Futures Trading Commission awarded $70,000 to a whistleblower who aided in an investigation into violations of the Commodity Exchange Act. This is the first award granted by the CFTC to a whistleblower living outside the United States. Find the CFTC Press Release here.