The Brink’s Company, a provider of security-related services, has agreed to pay $400,000 and add wording in U.S. confidentiality agreements to comply with a Securities and Exchange Commission (SEC) rule regarding corporate whistleblowers.
Brinks, without admitting or denying the agency’s findings, reached agreement with the SEC on Wednesday to settle charges that the confidentiality and nondisclosure agreements it required new employees to sign contained clauses that prohibited workers from disclosing confidential financial information to third parties without the company’s consent. The agreements contained language that threatened current and former employees with $75,000 in liquidated damages, as well as legal fees, if they failed to notify the company before disclosing such information.
