News & Analysis as of

Misappropriation Whistleblower Protection Policies

Ogletree, Deakins, Nash, Smoak & Stewart,...

CFTC Fines Commodities Trader $55 Million in First-Ever Whistleblower Rule Enforcement Action

The Commodity Futures Trading Commission (CFTC) has joined the list of federal agencies targeting employment nondisclosure agreements and other restrictive covenants that allegedly restrict employees from making reports to...more

WilmerHale

2024 Trade Secret Update: A Look at Recent Trade Secret Developments & Trends

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On May 11, 2024, the Defend Trade Secrets Act (DTSA) celebrated its eight-year anniversary. The DTSA’s enactment in 2016 marked a turning point in US trade secret protection. It gave parties seeking redress for...more

Davis Wright Tremaine LLP

CFTC Charges Trading Company With Market Manipulation and Whistleblower Protection Violations

On June 17, 2024, the CFTC's Division of Enforcement announced that it had reached a settlement with Trafigura Trading LLC ("Trafigura") over allegations that the firm manipulated oil derivatives prices while discouraging...more

A&O Shearman

CFTC Resolves First Action for Impeding Whistleblowers Over Objections of Two Commissioners

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On June 17, 2024, the Commodity Futures Trading Commission (“CFTC” or “the Commission”) issued a groundbreaking order against an energy, metals, and minerals commodity trading company (the "Company”) registered in Singapore....more

WilmerHale

2024 Trade Secret Update: Whistleblower Protections in the Northern District of California

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WilmerHale lawyers advise clients on every aspect of trade secret law from contracts to complex litigation. Below please find a short update on an important development in trade secret whistleblower protections in the...more

Kohn, Kohn & Colapinto LLP

Crypto Fraud Remains Focus of CFTC Whistleblower Program

For the second straight year, the majority of whistleblower tips received by the Commodity Futures Trading Commission (CFTC) Whistleblower Program were related to cryptocurrency fraud. On October 31, the CFTC released its...more

Troutman Pepper

Seven Steps to Address Trade Secret Misappropriation by Whistleblowers

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“The immunity provision of the Defend Trade Secrets Act creates serious risk for companies: A whistleblower could expose a company to civil and criminal penalties stemming from the company’s alleged misconduct and...more

Kramer Levin Naftalis & Frankel LLP

SEC Accuses Issuer and CEO of Violating Whistleblower Protection Laws to Silence Investor Complaints

On Nov. 4, 2019, the Securities and Exchange Commission (SEC) filed an amended complaint against Collectors Café and its CEO, Mykalai Kontilai, to add charges against defendants for alleged violations of whistleblower...more

Proskauer - Whistleblower Defense

SEC Files Suit Against Company For Allegedly Impeding Investors From Blowing the Whistle

On November 4, 2019, the SEC announced that it had filed an amended complaint against online auction portal Collectors Café and CEO Mykalai Kontilai, alleging Kontilai tried to prevent investors from communicating with the...more

A&O Shearman

Issuer And CEO Charged By The SEC With Fraud And Whistleblower Protection Law Violations For Allegedly Impeding Investor...

A&O Shearman on

On November 4, 2019, the Securities and Exchange Commission (“SEC”) filed an amended complaint against Collectors Café, a Nevada-based company purportedly providing online auctions for collectibles (the “Company”), and its...more

BCLP

Want to Protect Your Trade Secrets? Update Your Employment Agreements!

BCLP on

Since 2016, the Defend Trade Secrets Act (DTSA) has provided employers with a federal cause of action against employees, former employees and other bad actors who misappropriate trade secrets.  In addition to injunctive...more

Troutman Pepper

How Safe Is That Harbor? The Impact of the Defend Trade Secrets Act's Whistleblower Immunity Provision on a Trade Secret Owner's...

Troutman Pepper on

Imagine that your company has just commenced an internal compliance investigation in response to an allegation that the company is violating various federal laws. The next day, a longtime employee with access to the company’s...more

Cozen O'Connor

Defend Trade Secrets Act Whistleblower Immunity Notice – Small Price to Pay for Major Benefits

Cozen O'Connor on

You probably already know that the federal Defend Trade Secrets Act (DTSA) makes available to employers a number of significant remedies, but what you may not know is that several of those remedies are contingent on employers...more

Seyfarth Shaw LLP

Hold My Beer: Ninth Circuit Hears Oral Argument In Trade Secret/Anti-SLAPP Row For A Second Time

Seyfarth Shaw LLP on

A Ninth Circuit panel consisting of Judges A. Wallace Tashima, Johnnie B. Rawlinson, and Paul J. Watford recently heard oral argument in Anheuser-Busch Companies v. Clark, 17-15591, concerning the denial of a former...more

Foley & Lardner LLP

Defend Trade Secrets Act Immunization for Whistleblowers: More Effective Than the Average Flu Shot?

Foley & Lardner LLP on

A unique feature of the Defend Trade Secrets Act (DTSA)—the federal statute opening federal courthouse doors to civil claims for trade secret misappropriation—is that it gives immunity from civil or criminal liability to...more

Seyfarth Shaw LLP

Defend Trade Secrets Act First: Claim Tossed Based On Whistleblower Immunity

Seyfarth Shaw LLP on

In what appears to be a first under the Defend Trade Secrets Act (“DTSA”), a United States District Judge has thrown out claims against an alleged trade secret thief on the basis of the DTSA’s immunity for confidential...more

Seyfarth Shaw LLP

Top Developments And Headlines In Trade Secret, Computer Fraud, And Non-Compete Law In 2017 And What We Expect In 2018

Seyfarth Shaw LLP on

Continuing our annual tradition, we present the top developments and headlines for 2017 and what we expect in 2018 in trade secret, computer fraud, and non-compete law....more

Parker Poe Adams & Bernstein LLP

Trade Secrets: What In-House Counsel Need to Know

As former U.S. Attorney General Eric Holder observed, there are only two types of companies affected by trade-secret theft: those that know they’ve been compromised and those that don’t know yet. ...more

McDonnell Boehnen Hulbert & Berghoff LLP

The DTSA After One Year: Has the Federal Trade Secrets Law Met Expectations?

On May 11, 2017, the Defend Trade Secrets Act (DTSA) – the law that created a Federal cause of action for trade secret misappropriation – celebrated its first birthday. The law was the result of years of negotiation between...more

Katten Muchin Rosenman LLP

Bridging the Week - June 2017

Former Newbie Bank Trader Pleads Guilty to Criminal Charges and Settles CFTC Civil Charges for No Fine for Spoofing, Attempted Manipulation and Manipulation of Gold and Silver Futures: David Liew, a former junior trader...more

Butler Snow LLP

The Defend Trade Secrets Act and Whistleblowers: Protections and Vulnerabilities

Butler Snow LLP on

President Obama signed into law the Defend Trade Secrets Act (“DTSA”) during his last year in office. Most notably, the DTSA creates a private federal civil cause of action for misappropriation of trade secrets. If that...more

Robinson+Cole Data Privacy + Security Insider

The Defend Trade Secrets Act of 2016: A Year Later By The Numbers

It has been almost a year since the Defend Trade Secrets Act of 2016 (DTSA) took effect. Since Forbes Magazine called the DTSA the “Biggest IP Development in Years,” we thought it might be helpful to take a look at how often...more

Fisher Phillips

A Primer on “Cross-Referencing” the DTSA Whistleblower Immunity Provision Following 4 Simple Steps

Fisher Phillips on

In the spring of 2016, the Defend Trade Secrets Act (“DTSA” or “Act”) was signed into law providing trade secret owners for the first time a federal civil cause of action for trade secret misappropriation. Although the DTSA...more

Orrick - Employment Law and Litigation

Whistle While You Work?: First Court To Rule On DTSA’s Whistleblower Immunity Provision Treats It As An Affirmative Defense

The Defend Trade Secret Act (“DTSA”) contains a whistleblower immunity provision which could have a significant impact on employers. Until last month, however, no court had interpreted this provision which provides that no...more

Nossaman LLP

Did you know... Are You in Position to Take Advantage of the New Federal Defend Trade Secrets Act?

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Recently, President Obama signed into law the Defend Trade Secrets Act of 2016 (DTSA) which amends the Economic Espionage Act of 1996, codified at 18 U.S.C. §§ 1831 et seq. Key benefits of the DTSA includes the option...more

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