Whistleblowing and Retaliation
Becoming a whistleblower is a difficult decision. Not only are would-be whistleblowers putting their jobs on the line, but in some cases, being a whistleblower can be dangerous. When individuals or corporations engaging in fraud learn of a whistleblower’s identity, they could retaliate against them in many different ways.
Thankfully, the U.S. Securities and Exchange Commission (SEC) provides opportunities for protection for whistleblowers like you. Continue reading to learn more about the risks for whistleblowers and how the SEC can help protect your identity.
The Risks of Blowing the Whistle
There are many personal and professional risks associated with whistleblowing. This is, in large part, because of retaliatory action on the part of the whistleblower’s supervisor, colleagues, or employer. Some examples of the types of retaliation you could be subjected to as a whistleblower include:
- Defamation
- Harassment
- Subjection to a hostile work environment
- Intimidation
- Reputational damage
- Demotion
- Termination
- Salary reduction
Although it’s against the law to retaliate against a whistleblower, it continues to be a serious issue that prevents many would-be whistleblowers from coming forward to the SEC. However, there are several ways you can protect yourself while still reporting your tip.
Protections Against Retaliation for Whistleblowers
Not only is it against the law for people to retaliate against whistleblowers, but the SEC also has the ability to take action against them as well. Your SEC whistleblower lawyer will help you file a claim against the liable party for every loss resulting from any retaliatory actions taken against you. Some of these losses might include:
- Reputational damage
- Lost income
- Diminished earning capacity
- Emotional distress
- Costs of mental health counseling
If your claim is successful, you could be awarded compensation for every loss, be reinstated to your position prior to the retaliation, and even be awarded double back-pay. The SEC may also decide to take action against the individuals who retaliate against you by imposing additional sanctions on top of the ones they’ll already be facing for securities violations.
The SEC allows whistleblowers to remain anonymous as long as they have legal representation. This can go a long way in terms of protecting your identity from becoming known, which could prevent you from suffering any type of retaliation.
Although blowing the whistle does come with its risks, there are protections in place that can help reduce the risk and ensure you get justice if retaliation does occur.
Get in Touch with an SEC Whistleblower Lawyer
Without courageous whistleblowers like you, fraudsters could continue defrauding innocent people indefinitely. There may be a considerable risk, but you could also win an SEC whistleblower award for your efforts in coming forward.
When you have information regarding securities violations and want to do everything you can to protect your identity, contact a respected SEC whistleblower lawyer at Meissner Associates. Use the convenient form below or call 1-866-764-3100 to schedule your confidential tip evaluation.
