Severance Agreements Cannot Dissuade Whistleblower Reports

September 2016 The Securities and Exchange Commission (“SEC” or the “Commission”) protects whistleblowers through Rule 21F-17, enacted under the Dodd-Frank Wall Street Reform and Consumer Protection Act, which states that "[n]o person may take any action to impede an individual from communicating directly with the Commission staff about a possible securities law violation.” Prior cases have [...]

CFTC Awarding 8 Figure Whistleblower Awards

May 2016 The U.S. Commodity Futures Trading Commission (“CFTC”) recently announced its largest ever whistleblower award, providing over $10 million to an unnamed individual whose information facilitated a successful CFTC enforcement action regarding violations of the Commodity Exchange Act (“CEA”). The CFTC’s whistleblower program derives from section 748 of the Dodd-Frank Wall Street Reform and [...]

SOX Whistleblower Protection Covers Certain Private Company Employees

March 2014 The Supreme Court has held in the case of Lawson v. FMR LLC that the whistleblower protection available under the Sarbanes-Oxley Act of 2002 (“SOX”) properly extends to employees of privately held contractors and subcontractors who perform work for a public company.  Although the case in question was brought by employees of advisors [...]

DOL Rewrites Sox Whistleblower Provision to a New Employer-Friendly Standard

June 2007 Like most lawsuits, many cases settle for undisclosed amounts. Nevertheless, of almost 1,000 whistleblower cases filed under the Sarbanes-Oxley Act (SOX), not a singe whistleblower has survived the various company appeals and “won” the case formally. The case that might have otherwise been the first employee victory was just overturned. SOX Section 806 [...]

Conflicting Rulings About SOX’s Scope Cause Private Company Employees To Stay With DOL Adjudication

October 2012 The Administrative Review Board (ARB) for the U.S. Department of Labor (DOL) recently issued a decision regarding the scope of the whistleblower protections under Sarbanes-Oxley Act of 2002 (SOX). In Spinner vs. David Landau and Associates, SOX’s whistleblower protections were extended to employees of contractors of publicly-traded companies.  In the Spinner case, the [...]

2019-03-01T12:15:48-08:00Important Whistleblower Litigation,