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.
Click below to hear SEC whistleblower lawyer Matt Stock’s tips for SEC whistleblowers:
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:
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.
