The new federal whistleblower law is proving a hot item for many plaintiff law firms. The law, the Dodd-Frank Wall Street Reform and Consumer Protection Act, went into effect in July. It authorizes the SEC to reward those who expose fraud at public companies with from 10 to 30 percent of the amount it recovers over $1 million. "We're inundated with calls," said Erika Kelton of plaintiffs powerhouse Phillips & Cohen, adding that many of the tips "appear to be good cases" and not bogus reports.
Firms Face a Sudden Rush of Whistleblower Claims
September 9, 2010