Pugsley Wood Client Awarded $1.5 Million SEC Whistleblower Bounty

BOSTON, March 3, 2022 /PRNewswire/ -- The U.S. Securities and Exchange Commission ("SEC") recently announced a whistleblower award to a client of Pugsley Wood LLP ("Pugsley Wood") whose tip "shaped [the SEC's] investigative strategy and significantly contributed to the [enforcement] action." Represented by Pugsley Wood partner Bryan A. Wood, the whistleblower received a maximum award totaling $1.5 million.

The SEC's Order granting the award noted that Mr. Wood's client, a cryptocurrency industry analyst, "provided new information" and "substantial and ongoing assistance to the Commission staff by helping the Commission staff understand the issues, which saved significant Commission staff time and resources."

"The award to my client, in particular, provides further validation of the significant contributions that non-insiders can make to successful SEC enforcement actions," commented Mr. Wood. "Utilizing industry expertise, this whistleblower identified fraudulent conduct that might otherwise have gone undetected and assisted Staff attorneys in developing case facts and theories. It is extremely gratifying to be associated with this client and case."

Since its inception, the SEC Whistleblower Program has paid out approximately $1.2 billion to 245 individuals. Whistleblowers can be eligible for an award when they voluntarily provide the SEC with original, timely, and material information that leads to a successful enforcement action.

About Pugsley Wood LLP
Pugsley Wood LLP is among the premier whistleblower law firms in the United States. Wood and Pugsley began collaborating on whistleblower cases in early 2015. In 2021 they decided to leave their respective law firms of 20+ years to better serve their clients by combining their knowledge and resources in a highly specialized law firm dedicated solely to representing whistleblowers. To date, they have obtained more than $74 million in whistleblowers awards for their clients under SEC, CFTC, DOJ, FIRREA/FIAFEA, and OSC whistleblower programs. Visit PugsleyWood.com for additional information.

SOURCE Pugsley Wood LLP