Key Takeaways
- • Silver Law Group and the Law Firm of David R. Chase secured a $20 million SEC Whistleblower Program award for their client, representing one of the largest awards issued under the federal securities law framework in 2026.
- • The co-counsel alliance successfully guided their client through a multi-year investigation into an alleged sophisticated securities manipulation scheme that resulted in SEC enforcement sanctions exceeding $75 million.
- • David R. Chase, a former SEC Enforcement Prosecutor, collaborated with Scott L. Silver to leverage specialized expertise in navigating the SEC's rigorous whistleblower adjudication process.
- • The SEC's formal order documenting the award was filed on June 29, 2026, affirming the significance of the enforcement action and the whistleblower's material contribution to detecting and prosecuting securities fraud.
Summary
Two Florida-based securities attorneys have achieved a notable victory in the SEC Whistleblower Program, securing a $20 million award for their client in connection with a sophisticated securities manipulation scheme. Scott L. Silver of Silver Law Group and David R. Chase of the Law Firm of David R. Chase, PA, formed a strategic co-counsel partnership to represent the whistleblower through a multi-year investigative process culminating in the award announcement on June 29, 2026.
The enforcement action underlying the award resulted in SEC sanctions exceeding $75 million, underscoring the materiality of the information and cooperation provided by the whistleblower. David R. Chase brought particular credibility to the representation, drawing on his background as a former SEC Enforcement Prosecutor. This institutional knowledge of agency procedures and enforcement priorities positioned the co-counsel team to effectively navigate the SEC's notoriously rigorous whistleblower award determination process, which evaluates both the significance of the underlying violation and the whistleblower's role in facilitating the agency's investigation.
The formal SEC order documenting the award was filed contemporaneously with the announcement, providing official documentation of the determination. Awards of this magnitude remain comparatively rare within the SEC Whistleblower Program, which was established to incentivize reporting of securities law violations and to provide financial protection and incentives for individuals willing to come forward with information about fraud and market manipulation. The $20 million award reflects both the severity of the alleged misconduct and the substantive contributions made by the whistleblower to the agency's enforcement effort.
The enforcement action underlying the award resulted in SEC sanctions exceeding $75 million, underscoring the materiality of the information and cooperation provided by the whistleblower. David R. Chase brought particular credibility to the representation, drawing on his background as a former SEC Enforcement Prosecutor. This institutional knowledge of agency procedures and enforcement priorities positioned the co-counsel team to effectively navigate the SEC's notoriously rigorous whistleblower award determination process, which evaluates both the significance of the underlying violation and the whistleblower's role in facilitating the agency's investigation.
The formal SEC order documenting the award was filed contemporaneously with the announcement, providing official documentation of the determination. Awards of this magnitude remain comparatively rare within the SEC Whistleblower Program, which was established to incentivize reporting of securities law violations and to provide financial protection and incentives for individuals willing to come forward with information about fraud and market manipulation. The $20 million award reflects both the severity of the alleged misconduct and the substantive contributions made by the whistleblower to the agency's enforcement effort.
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