SEC Awards Four Whistleblowers $122 Million

The SEC reported (here and here) that four anonymous whistleblowers will receive $122 million for providing information and assistance in SEC investigations and enforcement actions.

According to the redacted first Order, one whistleblower will receive a total of $82 million for providing information that prompted the opening of an investigation, and the second tipster will receive $16 million, for providing information focused on one of the transactions at issue.

According to the redacted second Order, one whistleblower will receive $4 million for providing information that prompted the opening of an SEC investigation and a related action by another agency. The SEC limited the award as the whistleblower (i) "had limited knowledge of the schemes and his/her information was general and/or incorrect in several respects;" and (ii) "unreasonably delayed the [investigation]." The second whistleblower will receive $20 million for providing "significant" details that expanded the scope of the inquiry.