Can SEC Whistleblowers Appeal Award Decisions?
When you’ve risked everything to blow the whistle on violations of the U.S. Securities and Exchange Commission (SEC) and are awarded an amount that doesn’t come close to what you deserve, you have the right to appeal the reward you are set to be issued.
Continue reading to learn more about filing your reconsideration request and what happens if your appeal is denied.
Filing a Reconsideration Request
Once you have filed a claim for your whistleblower award after finding your case on the notice of covered actions, the SEC review team will make the decision to deny your claim or grant it. If your claim is granted, they will then figure out what your award is worth.
If you have reason to believe that your tip is worth a great deal more, you can file a reconsideration request of your preliminary determination. This needs to be done in sixty days time or you’ll lose the opportunity to appeal.
Should the claims reviewers come down in your favor, you’ll be issued a proposed determination with the SEC. However, if your reconsideration request is denied, then you’ll need to take the next steps to fight for the compensation amount that you feel you’re owed.
Your Award and the U.S. Court of Appeals
Your next level of appeals is your final one: the U.S. Court of Appeals. You will file your appeal within thirty days of the SEC’s denial and your case will be heard by the country’s highest appellate courts. This court has the power to grant you the award that adequately reflects your undertaking as a whistleblower.
It is important to note that if you’ve been granted a whistleblower award that is between 10 and 30 percent of the recovered sanctions in your case, then you will not be able to appeal the amount of your award.
Reach out to an SEC Whistleblower Attorney
For assistance with all of your whistleblowing and award appeal needs, get in touch with an experienced SEC whistleblower lawyer at Meissner Associates. You can come in for a free claim review when you give our office a call at 1-866-764-3100 or complete the brief contact form below.