On May 8, 2012, the New York Court of Appeals issued the latest decision to address whether an at will employee who complains internally of alleged illegal acts, has protection from firing.
In Sullivan v. Harnisch, 2012 N.Y. Slip Op. 03574, 2012 WL 1580602, New York’s highest court ruled that the Chief Compliance Officer of a hedge fund who claims to have objected to “front running” (selling of stock by hedge fund owners/employees in anticipation of transactions by its own clients) was not entitled to protection from firing, and his claim for wrongful termination was dismissed.
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