Whistleblower Suit by Former SEC Lawyer Settled for $755,000

The Securities and Exchange Commission (SEC) has settled a whistleblower claim with one of its former enforcement lawyers, Gary Aguirre, for $755,000.  Mr. Aguirre was fired in 2005 while investigating stock trades made by Pequot Capital Management, which was then the world's largest hedge fund, and its principal, Arthur Samberg.  Under the Bush Administration the SEC closed out the investigation in 2006 without taking any enforcement action.  Last month, however, the SEC filed suit identifying some of the trades Aguirre investigated back in 2005 before he was fired.  That suit resulted in Pequot and Samberg disgorging $18 million in profits and paying a penalty of $10 million. 

Source:  New York Times

If you are a whistleblower and have suffered reprisal or retaliation, contact Lexington, Kentucky whistleblower lawyer Robert Abell at 859-254-7076.