Administrative: SEC-Whistleblower Award-Denial of Application

Petitioners sought review of the SEC’s order denying their applications for whistleblower awards in connection with the SEC’s successful prosecution of a securities action. The SEC concluded that one petitioner was not a joint whistleblower with another party who had received an award, as they never had an executed agreement and submitted individual tips years apart, while two other petitioners had not provided information that led to a successful enforcement action.

Where there was no evidence of a joint provision of information to the SEC and individual information provided by petitioners was not new or useful to the enforcement action, there was no error in denying petitioners’ applications for whistleblower awards.

Petitions are denied.

Pederson v. U.S. Securities & Exchange Commission (MLW No. 83691/Case No. 24-2330 & 24-2526 – 25 pages) (U.S. Court of Appeals, 8th Circuit, Smith, J.) Petition for review of an order of the Securities & Exchange Commission. (Faezeh Vaezfakhri, New York, NY and Bradley E. Oppenheimer, Washington, D.C. for petitioners; Alyssa J. Picard, Washington, D.C. and John Thorne, Washington, D.C. on the brief) (Archith Ramkumar, Washington, D.C. for respondent; Megan Barbero, Washington, D.C. and Emily True Parise, Washington, D.C. on the brief)