Tribeca Capital Group, LLC, one of the nation’s leading litigation loan companies, has announced a drive to help support the financial needs of whistleblowers who bring actions to expose fraudulent corporate activities and other wrongdoing.
Tribeca Capital Group offers help in the form of commercial litigation loans to claimants with whistleblower actions.
Tribeca is one of the few litigation loan companies in the United States to offer advances to plaintiffs in what are called qui tam cases, a special type of commercial whistleblower litigation brought under the False Claims Act against a company that has defrauded or otherwise wrongfully made a claim against the federal government. Many states have also enacted their own false claims statutes.
In general, qui tam and other whistleblower actions are designed to protect the integrity of government revenue and procurement systems by allowing an individual with specific knowledge of wrongdoing to bring a suit on behalf of the government and claim a reward, usually a percentage of what the government recovers. A case filed under the False Claims Act can result in a whistleblower reward of 15 to 25 percent.
Candice Payrovi, Chief Operating Officer of Tribeca Capital Group, LLC described the impetus for some common qui tam cases. “The highest percentage of cases brought by qui tam claimants involve health care and health care-adjacent services, particularly overbilling by unscrupulous Medicare and Medicaid providers. Coronavirus suits are also gaining steam. Companies that procure and supply the government with goods are frequent targets of whistleblower suits, as are defense contractors. Consider the infamous $640 toilet seat and $435 hammer.”
Payrovi explained why her company is eager to work with whistleblower claimants. “Qui tam and suits under the False Claims Act” are particularly challenging because they are by definition high dollar matters, and much is at stake. The people who bring these cases are protected by law against retaliation in employment, but many are wrongfully forced out of what are often lucrative jobs, and it could be some time before their matters are resolved.”
Because qui tam and False Claims actions do not follow the traditional litigation model, many brave souls who bring these cases do not realize that they could qualify for a litigation loan from Tribeca. Rewards in a qui tam matter can be substantial, but resolution of complex cases can take months or even years. A litigation loan from Tribeca can help whistleblowers survive the financial stress that often accompanies these cases. Donadio also emphasized that whistleblowers are protected by a guarantee that eliminates their personal liability for repayment if for some reason the case results in no reward.
If you have filed a whistleblower action and would like to explore whether you qualify for a litigation loan on your award, contact Candice Payrovi, Tribeca Capital Group at (866) 388-2288.
