May 26, 2020
As whistleblowers report more covid-19-related securities fraud schemes, Phillips & Cohen partner and whistleblower attorney Sean McKessy shares his unique perspective as a former SEC official with Reuters.
With so many tips, lawyers are being selective about which cases they take on. Sean McKessy, a partner at Phillips & Cohen who previously worked to set up the SEC whistleblower office, said he was on the lookout for misconduct the SEC tends to penalize most harshly, such as companies padding earnings or disclosure violations.
“While the SEC has so far penalized penny stock firms, the regulator is also quite vigilant about what larger companies are telling investors about how COVID-19 might impact them,” he said.