On August 21, 2012, the Securities and Exchange Commission (SEC) announced that it has awarded its first whistleblower bounty, just over one year after the SEC’s Dodd-Frank whistleblower rules became effective.  The SEC’s Claims Review Staff issued a short order, Release No. 34-67698, granting the whistleblower’s award, which notes that the SEC declined to award a claim to a second whistleblower involved in the action. Continue reading “SEC pays first whistleblower bounty under Dodd-Frank”

Court documents filed this week show the giant pharmaceutical firm Omnicare Inc. has agreed to settle a whistleblower lawsuit involving millions of dollars in alleged kickbacks to one of Illinois’ most prominent nursing home families.  While Omnicare reached a financial settlement in principle, the terms have not been publicly disclosed. It is not clear if Omnicare’s board has approved the agreement, although a lawyer involved in the case suggested that will likely happen. Continue reading “Whistleblower suit against Omnicare settled”