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Labor & Employment Civil Procedure Securities

Read need-to-know updates, commentary, and analysis on Labor & Employment issues written by leading professionals.

The Final Rule: DOL Fiduciary Rule Affirmed and Revoked

During the week of March 12, two federal appeals courts separately upheld and vacated the DOL fiduciary rule under the Administrative Procedure Act, and DOL suspended enforcement of the rule pending further review. Please...more

Fifth Circuit Vacates Department of Labor’s Fiduciary Rule

On March 15, 2018, in a 2-1 decision, the U.S. Court of Appeals for the Fifth Circuit vacated entirely the conflict of interest regulation of the Department of Labor (DOL) and its related prohibited transaction exemptions...more

Fiduciary Rule cancelled, subject to further appeal by DOL

by McAfee & Taft on

For several years now, many in the retirement plan industry have been talking about the U.S. Department of Labor’s (DOL) new regulations and rules collectively referred to as the “Fiduciary Rule,” which significantly expanded...more

Fifth Circuit Vacates DOL Fiduciary Rule

In a 2-1 decision, the U.S. Court of Appeals for the Fifth Circuit vacated the Department of Labor’s fiduciary rule, including the expanded definition of “investment advice fiduciary” and the associated exemptions. The...more

Supreme Court Limits the Definition of Whistleblower for Anti-Retaliation

by Weiner Brodsky Kider PC on

In an opinion that settled a circuit split, the Supreme Court has decided that the definition of “whistleblower” in the Securities Exchange Act of 1934 is limited to employees who provide information relating to violations of...more

What the Supreme Court’s Whistleblower Decision Means for Companies

by Latham & Watkins LLP on

By limiting the availability of Dodd-Frank whistleblower anti retaliation provisions, the Court’s decision may incentivize increased SEC reporting. In Digital Realty Trust, Inc. v. Somers, the Supreme Court of the United...more

Supreme Court Limits Scope of Anti-Retaliation Protections for Whistleblowers Under Dodd-Frank

by White & Case LLP on

Supreme Court Limits Scope of Anti-Retaliation Protections for Whistleblowers Under Dodd-Frank: Rules That Protections Only Apply to Whistleblowers Who First Report Directly to the SEC - On February 21, 2018, in Digital...more

The United States Supreme Court Narrows Whistleblower Protections Under Dodd-Frank

by Bennett Jones LLP on

The Supreme Court of the United States has refused to broaden protections for employee-whistleblowers under the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). In Digital Realty Trust Inc v....more

Supreme Court Limits Protections for Whistleblowers Under Dodd-Frank

by Shipman & Goodwin LLP on

In a unanimous decision earlier this week, the Supreme Court ruled that protections afforded by the Dodd-Frank Act to “whistleblowers” – employees who report suspected violations of securities laws – apply only to reports to...more

Whistleblowers Now Actually Have to Report to The SEC For Dodd-Frank Protection

by Hinshaw & Culbertson LLP on

On February 21, 2018, the U.S. Supreme Court ruled that provisions of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act that protect whistleblowers from being fired, demoted, or harassed by their employers...more

Only Persons Who Report Security Violations to the SEC are Whistleblowers Under Dodd-Frank: Supreme Court Decides Digital Realty...

by Foley & Lardner LLP on

The Supreme Court in Digital Realty Trust narrowed the definition of a whistleblower under the Dodd-Frank Act only to those persons who have provided information of a securities laws violation to the U.S. Securities and...more

SCOTUS Slams Door On Attempt To Expand Retaliation Law

by Fisher Phillips on

Yesterday’s decision is good news for employers. It limits the ability of disgruntled former employees to seek whistleblower protection under the Dodd-Frank Act, and means there is one fewer weapon out there to be used...more

Whistle[blowing] While You Work: Dodd-Frank’s Antiretaliation Provision Does Not Protect Internal Reports Of Wrongdoing

by Hogan Lovells on

The United States Supreme Court just issued a decision in a highly anticipated whistleblower case, and unanimously held that the antiretaliation provision of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act...more

Court Rejects Short-Swing Profits Claim Relating to Share Withholding to Satisfy Taxes

by Hodgson Russ LLP on

On January 26, 2018, the United States District Court for the Northern District of Oklahoma granted summary judgment to WPX Energy, Inc. (the “Company”) and its CEO and general counsel in relation to a plaintiff’s claim that...more

Whistleblower Risks at the Supreme Court

by NAVEX Global on

Later this year, the Supreme Court will rule on whether whistleblower protections under the Dodd-Frank Act apply only to people who report misconduct to the Securities and Exchange Commission (SEC). That is, people who report...more

2017 Year in Review: Securities Litigation and Regulation

The securities litigation and regulatory landscape in 2017 defies simple categorization. Plaintiffs filed 226 new federal class actions in the first half of 2017, more than double the average rate over the last 20 years, and...more

Discretionary Director Compensation Subject to Entire Fairness Review

by White & Case LLP on

On December 13, 2017, on appeal from the Chancery Court, the Delaware Supreme Court in In re Investors Bancorp, Inc. Stockholder Litigation, Del. Supr., No. 169, 2017, Strine, C.J. (Dec. 13, 2017) ("Bancorp"), denied a motion...more

California Court of Appeal Holds that Demand Futility Must be Reassessed at Time of Filing of Amended Complaint

In Apple Inc. v. Superior Court, No. H044133, 2017 WL 6275830 (Cal. App. Dec. 11, 2017), the California Court of Appeal, Sixth District, considered whether a plaintiff asserting a shareholder derivative lawsuit must plead...more

Boards Beware: Delaware Supreme Court Limits Application of Deferential Standard for Reviewing Director Equity Awards

On December 13, 2017, the Delaware Supreme Court issued an opinion, In re Investors Bancorp, Inc. Stockholder Litigation, Case No. 169, holding that, except under limited circumstances, the court will not apply the...more

Director Discretionary Compensation Subject to Entire Fairness Standard According to Delaware Supreme Court

by Stinson Leonard Street on

In a recent decision by the Delaware Supreme Court in In re Investors Bancorp Stockholders Litigation, the court found that director equity grants based on director discretion are subject to an entire fairness standard of...more

Maryland District Court Denies Summary Judgment on CFPA Whistleblower Claim

The U.S. District Court for the District of Maryland recently denied a motion for summary judgment in a whistleblower retaliation claim under the Consumer Financial Protection Act of 2010 (CFPA), Section 1057 of Dodd-Frank,...more

Whistleblower Status Up For Debate Before SCOTUS: Digital Realty Trust Inc. v. Somers

The nation’s top court will soon decide a key aspect of how employers should handle employee complaints about possible fraud or financial wrongdoing in the company that may violate federal laws. These situations provide...more

Where the Whistle Blows: Justices Express Doubt That Dodd-Frank Protection Shields Internal Whistleblowing

by Zuckerman Spaeder LLP on

When Congress passed the Dodd-Frank Act in 2010, it bolstered protections for whistleblowers who report certain kinds of misconduct, such as violations of securities law. At the time, the Sarbanes-Oxley Act already provided...more

Blog: SCOTUS hears oral argument in Somers v. Digital Realty Trust: Dodd-Frank whistleblower statute “says what it says”

by Cooley LLP on

Yesterday, in addition to hearing oral argument regarding state court jurisdiction over ’33 Act class actions (see this PubCo post), SCOTUS also heard oral argument in a second case, Somers v. Digital Realty Trust. This case...more

The Supreme Court To Clarify Who Is A Whistleblower Under The Dodd-Frank Act; Employers Have A Reason To Be Hopeful

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Following oral argument, employers can be cautiously optimistic that the U.S. Supreme Court will hold that the Dodd-Frank Act’s anti-retaliation protections apply only to those employees who have made a...more

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