News & Analysis as of September 19, 2024

Securities and Exchange Commission (SEC)

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Hiring & Firing refers to the process of recruiting, interviewing and offering employment and the process of evaluating performance and dismissing employees. Hiring & Firing is a highly regulated area and can create tremendous liability for employers who fail to properly adhere to acceptable employment practices. Some of the potential pitfalls in this area stem from discriminatory hiring practices, improper performance evaluations, and retaliatory firings. less -

Navigating Employment and Separation Agreements: Lessons From Al Pacino's Serpico — Hiring to Firing Podcast

Troutman Pepper on 2/20/2024

In this episode of the Hiring to Firing Podcast, Partners Tracey Diamond and Evan Gibbs, along with fellow Partners Sheri Adler and Mary Weeks, chat about the ultimate whistleblower — police officer Frank Serpico — and the...more

CA District Court: Dodd Frank Whistleblower Provision Does Not Apply Extraterritorially

Proskauer - Whistleblower Defense on 11/11/2021

On June 28, 2021, the United States District Court for the Northern District of California granted the Company’s Rule 12(b)(6) motion to dismiss after an executive claimed he was discharged in violation of the Dodd-Frank...more

CA Federal Court Dismisses Whistleblower Claims After Bench Trial

Proskauer - Whistleblower Defense on 8/10/2021

On July 26, 2021, the United States District Court for the Northern District of California held, after a bench trial, that Plaintiff Botta failed to prove that Defendant PricewaterhouseCoopers LLP (“PwC”) terminated his...more

ARB: No Protected Activity where Employee Inadvertently Informed Employer and Only “Hinted” at Filing Whistleblower Complaint

Seyfarth Shaw LLP on 11/13/2019

Seyfarth Synopsis: The DOL’s ARB rejected an employee’s SOX retaliation claim where he inadvertently provided information to his employer and only “hinted” that he was filing a SOX-protected complaint. The ARB seems unwilling...more

Eastern District of Pennsylvania Grants Summary Judgment on SOX Claim

Proskauer - Whistleblower Defense on 8/7/2019

On July 18, 2019, the U.S. District Court for the Eastern District of Pennsylvania granted a defendant-employer’s motion for summary judgment on a SOX whistleblower retaliation claim, holding that the Plaintiff did not have...more

[Podcast]: Key Contractual Provisions for Employers to Incorporate in Documents with Confidentiality Covenants

Proskauer - Employee Benefits & Executive... on 5/30/2019

In this episode of The Proskauer Brief, Kate Napalkova, special employee benefits and executive compensation counsel, and associate Oleg Zakatov discuss potential pitfalls that lurk in employment agreements and other employee...more

Ninth Circuit Holds That Statutes Do Not Constitute “Rules or Regulations of the SEC” for Purposes of Sarbanes-Oxley Act...

Sheppard Mullin Richter & Hampton LLP on 3/5/2019

In Wadler v. Bio-Rad Laboratories, Inc., No. 17-16193, 2019 WL 924827 (9th Cir. Feb. 26, 2019), the United States Court of Appeals for the Ninth Circuit held that statutes, including the Foreign Corrupt Practices Act...more

Federal Court Allows SOX Whistleblower Claim To Proceed But Dismisses Dodd-Frank Claim

Proskauer - Law and the Workplace on 10/12/2018

On October 2, 2018, the U.S. District Court for the Western District of Pennsylvania federal court denied a Rule 12(b)(6) motion to dismiss a SOX whistleblower retaliation claim, reasoning that Plaintiff sufficiently alleged...more

A Review of Recent Whistleblower Developments - July 2018

Foley & Lardner LLP on 7/19/2018

Whistleblower Developments is a periodic report covering significant cases, decisions, proposals, and legislation related to whistleblower statutes and how they may impact your business. Recent developments include: New...more

Supreme Court Narrowly Interprets “Whistleblower” under Dodd-Frank, Foreclosing Protections for Those Who Fail to Report Issues to...

Bradley Arant Boult Cummings LLP on 2/23/2018

The Supreme Court has resolved a circuit split on whether Dodd-Frank’s whistleblower protections apply only to employees who report their concerns to the Securities and Exchange Commission (SEC). On Wednesday, in Digital...more

U.S. Supreme Court Narrows Dodd-Frank Act Whistleblower Protections

Jackson Lewis P.C. on 2/23/2018

The anti-retaliation provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 protects only employees who complain directly to the Securities and Exchange Commission (SEC), the U.S. Supreme Court has...more

Justices Say Dodd-Frank’s Whistleblower Protections Cover Only Those Who Report To SEC

Fox Rothschild LLP on 2/23/2018

In a unanimous ruling that narrows the class of would-be whistleblowers under the Dodd-Frank Act, the U.S. Supreme Court held that the statute requires whistleblowers to first report potential securities violations to the SEC...more

SCOTUS Slams Door On Attempt To Expand Retaliation Law

Fisher Phillips on 2/22/2018

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

A Review of Recent Whistleblower Developments

Foley & Lardner LLP on 10/19/2017

...On July 25, 2017, the U.S. Securities and Exchange Commission (SEC) announced it was awarding nearly $2.5 million to a government employee who tipped off the SEC to a company’s wrongdoing. Although the SEC does not...more

S.D.N.Y. Dismisses Dodd-Frank Whistleblower Claim Because Retaliation Claims Were Already Arbitrated

Proskauer - Whistleblower Defense on 8/12/2017

The Southern District of New York recently dismissed Dodd-Frank whistleblower retaliation claims brought by an employer’s ex-President and an ex-Director pursuant to Rule 12(b)(6) on res judicata grounds, determining that...more

Federal Court Compels Arbitration of Dodd-Frank Whistleblower Claim

Proskauer - Whistleblower Defense on 7/14/2017

In a recent decision, the U.S. District Court for the Western District of Wisconsin held that Dodd-Frank whistleblower claims (Section 922 claims) are subject to mandatory arbitration. Wussow v. Bruker Corp., No....more

The Northern District of New York Applies the “Reasonable Belief” Standard

Proskauer - Whistleblower Defense on 5/25/2017

On May 11, 2017, the Northern District of New York applied the Second Circuit’s standard for evaluating a Dodd-Frank retaliation claim in response to a motion to dismiss under F.R.C.P. Rule 12(b)(6). The court denied the...more

A Review of Recent Whistleblower Developments

Foley & Lardner LLP on 4/21/2017

Whistleblower Developments is a periodic report covering significant cases, decisions, proposals, and legislation related to whistleblower statutes and how they may impact your business. ...more

Chris Lazarini Analyzes Application of Twombly in Retaliatory Discharge Case

Bass, Berry & Sims PLC on 3/3/2017

Bass, Berry & Sims attorney Chris Lazarini analyzed a case in which the plaintiff claimed he was wrongfully terminated from employment at Morgan Stanley after the company discovered he reported alleged illegal activities to...more

Modern Whistleblower Retaliation Risk Require a Modern Framework

NAVEX on 1/30/2017

If compliance officers ever needed one more sign about the importance of anti-retaliation programs, it arrived on September 29, 2016. On that day, the Securities and Exchange Commission (SEC ) fined a company that makes...more

This Cold Bud Is For You: SEC Sanctions Anheuser-Busch for “Chilling” Employee from Communicating with SEC

Orrick, Herrington & Sutcliffe LLP on 9/30/2016

On September 28, 2016, the SEC announced that Anheuser-Busch agreed to pay $6 million to settle charges of Foreign Corrupt Practices Act and Dodd-Frank whistleblower violations. The SEC’s order stated that AB InBev violated...more

Anheuser-Busch InBev and Lessons in Joint Venture FCPA Compliance

Thomas Fox - Compliance Evangelist on 9/30/2016

Just in time for National Beveridge Day comes the Foreign Corrupt Practices Act (FCPA) enforcement action involving Anheuser-Busch InBev (ABI), where the company paid $6 million to settle charges that it violated the FCPA and...more

Employment Flash - October 2015

Skadden, Arps, Slate, Meagher & Flom LLP on 11/2/2015

SEC Adopts CEO Pay Ratio Rule - The U.S. Securities and Exchange Commission (SEC) recently adopted a final rule requiring public companies to disclose the ratio of annual pay of their chief executive to median annual pay...more

Second Circuit Expands Scope of Dodd-Frank Anti-Retaliation Provisions, Sets up Chance for Supreme Court Review

Brooks Pierce on 9/14/2015

Once upon a time, Daniel Berman was the finance director of Neo@Ogilvy LLC, a subsidiary of the publicly-traded WPP Group USA, Inc. He did not find a handsome prince or princess there. According to the allegations of a...more

Second Circuit Defers To SEC Interpretation Of “Whistleblower” For Purposes Of Retaliation Suit Under Dodd-Frank

Cooley LLP on 9/11/2015

In Berman v. Neo@Ogilvy LLC, a three-judge panel of the Second Circuit reversed and remanded a decision of the SDNY, which had dismissed a claim for retaliation by a former employee on the basis that Dodd-Frank’s...more

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