business

Labaton Sucharow Hires Former SEC Attorney Jordan Thomas

Labaton Sucharow LLP hired former U.S. Securities and Exchange Commission attorney Jordan A. Thomas to start the New York-based law firm’s whistle-blower representation practice.

Thomas was assistant director and assistant chief litigation counsel in the SEC’s Division of Enforcement for the past eight years and helped to develop the agency’s whistle-blower program, Labaton said today in a statement. Thomas will head Labaton’s practice focused exclusively on representing individuals who report fraud to the SEC.

“After working on the whistle-blower and cooperation initiatives, I have come to believe that these new partnerships between government and private individuals will revolutionize the enforcement of the federal securities laws,” Thomas said in the statement.

The SEC’s whistle-blower program, part of the agency’s rulemaking under the Dodd-Frank Act, will let corporate tipsters collect as much as 30 percent of penalties when they report financial wrongdoing. The program expands a bounty system that was previously limited to insider-trading cases.

Labaton’s whistle-blower practice will include an in-house team of investigators, financial analysts and forensic accountants with federal and state law enforcement experience, the firm said.

“Approaching the first anniversary of the Dodd-Frank Act, there couldn’t be a better time to demonstrate our firm’s continuing commitment to secure remedies for victims of the virulent greed and misconduct that has so damaged the economy and eroded public faith in the markets,” Labaton Chairman Lawrence A. Sucharow said in the statement.

(Updates with comment from statement in third paragraph.)
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