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U.S. Supreme Court To Review Scope Of “Whistleblower” Under Dodd-Frank

On June 26, 2017, the U.S. Supreme Court agreed to review whether individuals who do not report alleged securities law violations to the U.S. Securities and Exchange Commission are “whistleblowers” protected by the...more

Supreme Court Asked to Review Scope of Dodd-Frank’s Whistleblower Provision

On April 25, 2017, Digital Realty Trust Inc. asked the United States Supreme Court to decide whether an employee who files an internal complaint (as opposed to a complaint with the SEC) is covered by the Dodd-Frank Act’s...more

First SEC Whistleblower Award To Former Company Officer

On March 2, 2015, the SEC announced an expected award of $475,000 to $575,000 to a former company officer “who reported original, high-quality information about a securities fraud that resulted in an SEC enforcement action...more

SEC’s Second Amicus Brief On Whether Dodd-Frank Protects Internal Reports

On December 11, 2014, the SEC filed an amicus brief in support of Plaintiff-Appellant Mikael Safarian asking the Third Circuit to revive his Dodd-Frank whistleblower claim and endorse the agency’s definition of...more

Highlights of SEC’s 2014 Annual Report

On November 17, 2014, the Securities and Exchange Commission’s Office of the Whistleblower (“OWB”) released its fourth Annual Report on the Dodd-Frank Whistleblower Program to Congress, which details information on OWB’s...more

Court Follows 5th Circuit Asadi Decision, Dismisses Dodd-Frank Whistleblower Claim

The U.S. District Court for the Eastern District of Wisconsin in Verfuerth v. Orion Energy Systems, Inc., No. 14-cv-352 (E.D. Wis. Nov. 4, 2014) recently ruled that the Dodd-Frank whistleblower protection provision does not...more

SEC Bans Repeat, Bad-Faith Tipster From Future Submissions

Last month, after an individual filed 196 award applications, the SEC Office of the Whistleblower (OWB) issued a detailed Final Order deeming him/her ineligible for an award in any of his/her pending applications and...more

SEC Scrutinizing Contractual Impediments to Whistleblower Complaints

Sean McKessy (“McKessy”), the Securities and Exchange Commission’s (“SEC”) whistleblower chief, cautioned in-house attorneys who draft contracts incentivizing employees to report securities fraud complaints in-house rather...more

SEC Enforcement Official Recommends That Firms Showcase Their Compliance Programs

Stephen Cohen, Associate Director in the Securities and Exchange Commission’s (SEC) Enforcement Division, recently advised companies being investigated to flaunt their compliance programs to the agency, according to an...more

9/24/2013  /  Compliance , Enforcement , SEC

District Court Widens Split On Whether Complaints Of Alleged Future Misconduct Are Protected

The U.S. District Court for the Central District of California ruled that a SOX whistleblower complaint survived a Rule 12(b)(6) challenge on “reasonable belief” grounds and found that complaints of potential future...more

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