Syntax Investors Tell 2nd Circ. SEC Snubbed Them On Reward

Law360, New York (August 31, 2017, 4:51 PM EDT) -- The U.S. Securities and Exchange Commission made a "deliberate decision" not to go out of its way to inform two Syntax-Brillian Corp. investors of their right to apply for whistleblower bounties after they gave information that led to $60 million of civil fraud judgments, the Second Circuit heard Wednesday.

Claimants Charles M. Cerny and Cliff Buxbaum conceded before Second Circuit Judges Denny Chin and Susan L. Carney that they applied for a reward almost two years after an applicable deadline expired on June 3, 2012. But, they say, the SEC should have done more than just post the potential reward on...

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