Severance Agreements

News & Analysis as of

“Change of Control” Case Isn’t Governed By ERISA, Court Rules

When an employee brings a lawsuit involving a plan adopted by their employer, one question is whether ERISA—the Employee Retirement Income Security Act of 1974—applies....more

NY Law Journal Report: Trump And The Future Of The SEC Whistleblower Program

As reported by Ryan Barber of the National Law Journal, the Trump administration could change the trajectory of the SEC whistleblower office, potentially halting the SEC’s recent strict scrutiny of potential impediments for...more

[Webinar] Employment and Severance Agreements At Home and Abroad - Part 2: Employment Agreements (Two Part Series) - December 7th,...

Please join us for another of Locke Lord’s informative live webinars: a practical overview of employment agreements around the globe. On December 7th, our panel of speakers will discuss key aspects of employment agreements,...more

SEC, FINRA and the DOL Take Aim at Confidentiality Provisions in Firm Agreements

On October 24, 2016, the United States Securities and Exchange Commission (SEC)'s Office of Compliance Inspections and Examinations (OCIE) released an alert examining whistleblower rule compliance and the use of...more

Employment Law Navigator – Week in Review: November 2016

Last week, a Pennsylvania federal court held that Title VII protects lesbian, gay, and bisexual employees from sex discrimination. As we noted in last Thursday’s post, courts around the country have differing views about...more

Did you consider the COBRA implications of your severance arrangement?

Employers frequently want to provide subsidized health coverage in connection with an employee’s severance or a reduction-in-force. In a classic case that proves the maxim ‘no good deed goes unpunished,’ the failure to...more

OCIE Staff to Examine Registered Advisers' Policies and Agreements for Whistleblower Rule Compliance

On October 24, 2016, OCIE published a risk alert noting that the SEC exam staff intends to examine registrants' compliance with the Dodd-Frank Act's whistleblower provisions. The alert noted recent enforcement actions...more

New Jersey Bill Prohibits Employers from Requiring Release of Gender Claims in Exchange for Severance

A bill in the New Jersey State Senate would bar an employer from entering into an agreement for severance payments with an employee “which results in the employee releasing any claims, or barring any potential claims in the...more

OSHA Also Hates It When You Discourage Whistleblowers

Following up on our recent coverage of the SEC’s administrative orders in BlueLinx Holdings and Health Net, we now bring you the somewhat dated “news” of interim guidance issued by the Occupational Safety and Health...more

HK's Bill Ross Gives Update From The State Bar Business Law Section's Corporations Committee -- SEC Continues Actions Against...

In separate actions on August 10, 2016 and August 16, 2016, the Securities and Exchange Commission (“Commission”) has again brought enforcement actions against companies for having confidentiality provisions in their...more

Brexit: Future Proofing Your European Business

The dust has now settled after the seismic shift of the UK’s vote to leave the European Union (also known as “Brexit”) on 23 June. The British Government has yet to formally trigger exit, and legal challenges are underway by...more

SEC Smacks Another Company for Impeding Whistleblowers by Prohibiting Monetary Awards

As we discussed, in early August the SEC sued BlueLinx Holdings, Inc. for violations of Rule 21F-17(a) for the way it structured its severance agreements to prevent departing employees from collecting monetary awards if they...more

Stinson Leonard Street's Emerging Trends Newsletter - Q3

We are thrilled to bring you the third installment of Stinson Leonard Street's Emerging Trends newsletter. We are proud of the depth and breadth of experience and knowledge across our firm's 13 offices nationwide and are...more

The SEC Hates It When You Discourage Whistleblowing

There have been lots of developments on the whistleblower front over the last couple months, and we’ve covered none of them here at Cady Bar the Door. Let’s try to catch up. Today we’ll discuss the first of this recent...more

SEC directs specific communication to employees regarding whistleblowing

In many investigations, whether internal or in response to government inquiries, employers may take action to terminate employees. A recent US Securities and Exchange Commission (SEC) resolution in the context of the US...more

New SEC Settlements Show Continued Focus on Whistleblower Protection and Severance Agreements

The Securities and Exchange Commission (SEC) continues to pursue enforcement actions against companies for whistleblower-related violations. The latest in a recent string of settled orders, which include the SEC's first case...more

A Review of Recent Whistleblower Developments

SEC Brings First Stand-Alone Whistleblower Retaliation Enforcement Action - On September 29, 2016, the U.S. Securities and Exchange Commission (SEC) brought its first stand-alone whistleblower retaliation case under...more

[Webinar] Employment and Severance Agreements At Home and Abroad - Part 1: Severance Agreements (Two Part Series) - Oct. 19th -...

Please join us for an informative live webinar series that will provide a practical overview of employment and severance agreements around the globe. On October 19th, our panel of speakers will discuss the various federal and...more

Small Business Securities Bulletin: Standard Confidentiality Provisions May Be Prohibited "Pretaliation" in Eyes of SEC

As we discussed in our June 2011 Bulletin, available here, SEC rules promulgated under the Securities Exchange Act of 1934, as amended (Exchange Act), pursuant to Section 21F thereunder as enacted by the Dodd-Frank Wall...more

Key New California Employment Laws

Following a flurry of activity in the final days of California’s legislative session, this past month Governor Jerry Brown has signed into law various employment bills addressing everything from state employee pensions to...more

DOL Joins SEC in Attack on Severance Agreement Clauses

Companies cannot prohibit their former employees from collecting whistleblower awards, says the DOL in a recently released memo. Moreover, even asking employees to disclaim any knowledge of any legal violations by the...more

OSHA Addresses Sarbanes-Oxley Whistleblower Releases

We have written about SEC enforcement actions related to severance and confidentiality agreements that restrict reporting matters to the SEC. OSHA has also issued guidance regarding settlement agreements with whistleblowers...more

SEC Settlements Put Severance Agreements Under Increased Scrutiny

The Securities and Exchange Commission (SEC) recently announced settlements with two companies for using severance agreements that allegedly violated Rule 21F-17. [Order Instituting Cease-And-Desist Proceedings, In the Matter...more

OSHA Joins the SEC in Attacking Confidentiality and Other Provisions in Private Settlement Agreements

On September 15, 2016, the federal Occupational Safety and Health Administration (OSHA) released new policy guidelines for its review of private settlement agreements presented to the agency for approval in whistleblowing...more

Top Ten International Anti-Corruption Developments for August 2016

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

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