SEC Announces Award to Whistleblower in First Retaliation Case

    

The Securities and Exchange Commission announced a maximum whistleblower award payment of 30 percent of amounts collected in connection withIn the Matter of Paradigm Capital Management, Inc. and Candace King Weir, File No. 3-15930 (June 16, 2014), the SEC’s first retaliation case. The whistleblower will receive over $600,000 for providing key original information that led to the successful SEC enforcement action. The whistleblower in this matter suffered unique hardships, including retaliation, as a result of reporting to the Commission.

“We appreciate and recognize the sacrifice this whistleblower made and the important role the whistleblower played in the success of the SEC’s first anti-retaliation enforcement action,” said Andrew Ceresney, Director of the SEC’s Division of Enforcement. “The Enforcement Division is committed to taking action when appropriate against companies and individuals that retaliate against whistleblowers.”

More here: http://www.sec.gov/news/pressrelease/2015-75.html

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