SEC Announces Its Largest-Ever Whistleblower Awards

Post by cr1895 » Tue, Mar 20, 2018, 8:56 AM UTC

refurb wrote: post #60

pbhjpbhj wrote: post #59

Earlier quoted context omitted.

>and the companies get sued for every pill they sold at that wrong price. // They should instead lose all profits, and the C-grades lose all that years compensation and be barred temporarily from starting any new companies. Only if misdeeds jeopardise their other profits will they take notice, otherwise it's always worth trying the fraud because they can do some business without fraudulently presenting prices and so…

One particular penalty that is an option is being disbarred from participating in Medicare/Medicaid. Depending on the disease the drug treats, that can be 50% of your market. And you're disbarred as an entity, not just the individual drug. Interesting, when Pfizer was found to be promoting off-label use of their drug (another no-no), they were disbarred. Well... their Pharmacia-Upjohn subsidiary was disbarred. Luckil…

Post by maxxxxx » Tue, Mar 20, 2018, 5:17 PM UTC

marvin wrote: post #70

maxxxxx wrote: post #57

Earlier quoted context omitted.

We owe that guy 104 million?

We definitely owe them enough money that they could comfortably fill the payment gap to their next job (which might be never, meaning enough money to pay for inflation-adjusted lost income during the entire remainder of their career). But in the name of pragmatism, it is unlikely that whistleblowers would blow the whistle on a purely economical basis if the reward wasn't higher than that.

Post by testvox » Wed, Mar 21, 2018, 12:19 AM UTC

refurb wrote: post #74

cr1895 wrote: post #71

Earlier quoted context omitted.

>is being disbarred from participating in Medicare/Medicaid. Depending on the disease the drug treats, that can be 50% of your market. And you're disbarred as an entity, not just the individual drug. So the people on Medicare/Medicaid who may benefit from the drug are punished?

You perfectly highlighted the problem of using this to penalize a company! How do you punish a misbehaving company without hurting the people using their products?