Image of SEC Whistleblower Program: What employment protections are available for SEC whistleblowers?

SEC Whistleblower Program: What employment protections are available for SEC whistleblowers?

 

Under Dodd-Frank, which created the SEC Whistleblower Program, employers cannot discharge, demote, suspend, harass, or in any way discriminate against employees for raising concerns about a potential securities-law violation. Remedies may include reinstatement, double back pay, litigation costs, expert-witness fees, and attorneys’ fees.

Employees may also have a retaliation claim under the Sarbanes-Oxley Act (“SOX”). The remedies are similar to those under Dodd-Frank, but SOX also includes special damages, such as emotional distress, impairment of reputation, and other noneconomic harm resulting from retaliation. A jury recently awarded $11 million to a whistleblower in a SOX retaliation case.

Other options include a Section 1985 civil rights claim, a breach of contract claim and a RICO action.  Click here to read more about options to combat retaliation against SEC whistleblowers.

The attorneys at Zuckerman Law have extensive experience litigating retaliation cases. For more information about whistleblower rewards and bounties, contact the SEC whistleblower lawyers at Zuckerman Law at 202-262-8959.

To learn more about the SEC Whistleblower Program, download Zuckerman Law’s eBook: SEC Whistleblower Program: Tips from SEC Whistleblower Attorneys to Maximize an SEC Whistleblower Award:

SEC Whistleblower Program Tips from SEC Whistleblower Attorneys to Maximize an SEC Whistleblower Award

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Under the Dodd-Frank Act, employers may not discharge, demote, suspend, harass, or in any way discriminate against an individual for whistle blowing. Remedies include things such as double payback, reinstatement, attorney’s fees, and litigation costs. In addition, these whistle blowers may have a claim under Sarbanes-Oxley Act. Remedies are similar to the Dodd-Frank Act, however they also include special damages, things such as harm to reputation or emotional distress.

Avatar of Jason Zuckerman

Jason Zuckerman, Principal of Zuckerman Law, litigates whistleblower retaliation, qui tam, wrongful discharge, and other employment-related claims. He is rated 10 out of 10 by Avvo, was recognized by Washingtonian magazine as a “Top Whistleblower Lawyer” in 2015 and selected by his peers to be included in The Best Lawyers in America® and in SuperLawyers.

Avatar of Matthew Stock

Matthew Stock is the Director of the Whistleblower Rewards Practice at Zuckerman Law. He represents whistleblowers around the world in SEC, CFTC and IRS whistleblower claims. He is also a Certified Public Accountant, Certified Fraud Examiner and former KPMG external auditor.