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Court: Whistleblowers Protected, SEC Reporting or Not

Joe Mont | September 10, 2015

A federal appeals court on Thursday ruled that employees are covered by anti-retaliation provisions for whistleblowers provided by the Dodd-Frank Act even if they don’t file a report with the Securities and Exchange Commission.

The ruling, a 2-1 vote by a judicial panel of the 2nd U.S. Circuit Court of Appeals in New York, concerns a Daniel Berman, former finance director at Neo@Oglivy, a unit of advertising company WPP. Berman claims that after internally reporting a variety of accounting irregularities he was terminated in April 2013.

For about six months after he was fired, Berman did not report any allegedly unlawful activities to the SEC. In October 2013, after the limitations period on one of his Sarbanes-Oxley claims had ended, he provided information to the Commission. In January 2014, he sued Neo and WPP, alleging that he was discharged in violation of the whistleblower protection provisions of Section 21F of the Dodd-Frank Act...

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