Jul 02, 2021
Class Action Settlement – Connary, et al. v. S.C. Johnson & Son, Inc., California Superior Court, Alameda C
Congress passed two major laws that include major protections for whistleblowers:
In 2002, Congress passed the Sarbanes Oxley (SOX) Act, which protects whistleblowers who report securities laws violations.
In July 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”).
Dodd-Frank amended SOX in several respects, significantly enhancing the protections available to whistleblowers in the financial services industry.
Dodd-Frank, which applies to both public and privately held companies, states that an employer cannot retaliate against an employee for revealing any information that is protected or required under SOX; the Securities Exchange Act of 1934; and any other law, rule or regulation subject to the jurisdiction of the Securities and Exchange Commission.
Dodd-Frank also protects employees who report truthful information relating to federal crimes. An employee who wins their case may receive up twice the amount of wages they lost due to retaliation, as well as attorneys’ fees. Dodd-Frank also allows for a whistleblower to receive cash awards of 10% to 30% of amounts that the SEC recovers based on the whistleblower’s report.
There are many important considerations in any whistleblower case. We can assist you to make decisions and help you through this technical and complex area of the law.
If you have questions about your rights under the Whistleblower Anti-Retaliation Laws or SOX/Dodd-Frank, please call us at 412.281.8400 or use our contact form.