News & Analysis as of

Retaliation Securities Violations Securities and Exchange Commission (SEC)

Lathrop GPM

Lower Burden of Proof for Whistleblowers Established in Landmark Supreme Court Case

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Recently, the Supreme Court of the United States issued a decision in Murray v. UBS Securities, LLC holding that whistleblowers are not required to prove their employer acted with “retaliatory intent” to be protected under...more

Proskauer Rose LLP

Top 10 Whistleblowing and Retaliation Events of 2023

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2023 was another groundbreaking year for whistleblower litigation and bounty awards. The U.S. Securities and Exchange Commission shattered records by issuing a $279 million award and continued to actively enforce the...more

Holland & Knight LLP

SEC Settlements Over Whistleblower Protections Pile Up

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As the SEC closed its fiscal year, it filed three separate enforcement actions against companies for purported violations of Rule 21F-17 under the Securities and Exchange Act of 1934, which prohibits persons from impeding...more

Proskauer - Whistleblower Defense

CA District Court: Insurance Policy Covering Securities Claims May Extend to SOX Whistleblower Claims

A recent California district court addressed the question of whether, for insurance coverage purposes, a SOX whistleblower claim is a “securities claim,” and answered that question in the affirmative. Skye Bioscience v....more

Holland & Knight LLP

SEC to Issuers: Retaliating Against or Impeding Whistleblowers Is Not Zen

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Public companies should be mindful not to interfere with or retaliate against whistleblowers, and stretching is best reserved for the yoga mat, not the numbers in a company's public disclosures. So says the U.S. Securities...more

Allen Matkins

Was This The Least Transparent Report In SEC History?

Allen Matkins on

Professor Alexander I. Platt at the University of Kansas School of Law has just released a draft of a forthcoming paper that takes the Securities and Exchange Commission to task for the lack of transparency in its...more

Proskauer - Whistleblower Defense

SEC Proposes Amendments to Whistleblower Program Rules, Which May Lead to More SEC Tips

On February 10, 2022, the U.S. Securities and Exchange Commission announced two proposed amendments to its whistleblower program rules. As we previously reported, a closely divided SEC adopted a final rule implementing...more

Proskauer Rose LLP

Top 10 Whistleblowing and Retaliation Events Of 2021

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2021 was another blockbuster year in the whistleblowing and retaliation arena. The U.S. Securities and Exchange Commission Office of the Whistleblower has now issued in excess of $1 billion in whistleblower bounties. ...more

Proskauer - Whistleblower Defense

CA Federal Court Dismisses Whistleblower Claims After Bench Trial

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

Proskauer - Whistleblower Defense

Third Circuit Confirms Limits on Scope of Protected Activity Under SOX

On July 16, 2020, the Third Circuit affirmed the dismissal of a former IT analyst’s whistleblower retaliation claim, holding that he lacked an objectively reasonable belief that his complaints implicated one of the enumerated...more

Robins Kaplan LLP

Financial Daily Dose 8.14.2020 | Top Story: Top Story: Apple Removes Fortnite from App Store; Epic Games Responds with Lawsuit

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Apple has removed spectacularly popular video game Fortnite from its App Store after accusing maker Epic Games of violating App Store Guidelines. Specifically, Epic has been encouraging users to make app payments directly to...more

Proskauer - Whistleblower Defense

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

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

Proskauer - Law and the Workplace

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

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

Foley & Lardner LLP

A Review of Recent Whistleblower Developments - July 2018

Foley & Lardner LLP on

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

Littler

Supreme Court Year in Review: Union Agency Fees, Travel Restrictions, and the Retirement of Justice Kennedy

Littler on

The U.S. Supreme Court closed out its most recent term, which began in October 2017, with a number of high-profile and ground-breaking decisions. ...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS – U.S. Agencies Decline to Prosecute Teradata for Alleged FCPA Violations – On February 26, 2018, Teradata Corporation, an Ohio-based enterprise software database management company,...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS – U.S. Agencies Decline to Prosecute Teradata for Alleged FCPA Violations – On February 26, 2018, Teradata Corporation, an Ohio-based enterprise software database management company,...more

Porter Hedges LLP

Business Litigation Alert: "Supreme Court Clarifies – Dodd-Frank Whistleblowers Must Also Perform for the SEC for Protection"

Porter Hedges LLP on

On February 21, the U.S. Supreme Court issued its opinion in the closely watched whistleblower case Digital Realty Trust, Inc. v Somers. In a unanimous ruling, the Court stated that whistleblowers must report any wrongdoing...more

Patterson Belknap Webb & Tyler LLP

New Limits on Whistleblower Protection: SCOTUS Makes SEC Reporting a Mandatory Requirement

Resolving a Circuit split, the United States Supreme Court unanimously held last week that an employee must report a securities violation to the Securities and Exchange Commission if he wishes to avail himself of the...more

White and Williams LLP

US Supreme Court Narrows Dodd-Frank Act Whistleblower Protections

The US Supreme Court recently resolved a long-standing split amongst the Circuits regarding whether the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act) protects both internal and external whistleblowers....more

McDermott Will & Emery

SEC Whistleblower Update

The Supreme Court recently clarified the scope of SEC whistleblower retaliation provisions. Though the decision limits retaliation actions, employers should continue to avoid conduct that can be interpreted as retaliation...more

Vedder Price

Supreme Court Limits Scope of Whistleblower Protections under Dodd-Frank: Items of Note and Potential Impacts

Vedder Price on

On February 21, 2018, the United States Supreme Court (the “Supreme Court”) resolved a circuit split on the question of whether the whistleblower anti-retaliation provision in Section 922 of the Dodd-Frank Wall Street Reform...more

Smith Debnam Narron Drake Saintsing & Myers,...

U.S. Supreme Court Clarifies Scope Of Whistleblower Protections Under Dodd-Frank

On February 21, 2018, in the case of Digital Realty Trust, Inc. v. Somers, the United States Supreme Court unanimously decided that employees who raise internal complaints about possible violation of securities laws are not...more

Blank Rome LLP

Blowing the Whistle Internally Is Not Enough to Be Covered by the Anti-Retaliation Provisions of the Dodd-Frank Act

Blank Rome LLP on

On February 21, 2018, the U.S. Supreme Court issued a much anticipated decision in Digital Realty Trust, Inc. v. Paul Somers that the anti-retaliation protections of the Dodd-Frank Wall Street Reform and Consumer Protection...more

Cooley LLP

Alert: United States Supreme Court Conclusively Narrows Definition of Whistleblower in Dodd-Frank Retaliation Cases

Cooley LLP on

On February 21, 2018, the United States Supreme Court unanimously held that employees must report a violation of securities laws to the Securities and Exchange Commission ("SEC") to be entitled to anti-retaliation,...more

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