
Kenneth C. Oh
Counsel
212-784-6911 koh@sh-law.comFirm Insights
Author: Kenneth C. Oh
Date: September 9, 2014
Counsel
212-784-6911 koh@sh-law.comThe SEC’s implementing rule provides protection from retaliation to workers who make protected disclosures regardless of whether they report the information to the SEC or another source. However, courts disagree over whether the agency’s interpretation should be given deference.
In Asadi v. G.E. Energy (USA), LLC, the Fifth Circuit Court of Appeals limited the scope of protection to those who report directly to the SEC. Earlier this summer, the U.S. District Court for the Southern District of New York took the opposite approach, finding that Dodd-Frank “does not clearly and unambiguously limit whistleblower protection to individuals who report violations to the SEC.”
Last month, the Second Circuit Court of Appeals ruled that Congress did not intend for the law to apply extraterritorially. Accordingly, it denied a whistleblower claim by a Taiwanese national who alleged he was terminated for reporting corruption at Siemens AG’s Chinese affiliate.
The ongoing litigation and potentially conflicting court decisions highlight that the Dodd-Frank Act is still in its infancy. Over the next few years, the law’s provisions will continue to be tested until a reliable body of law is developed around it. In many cases, it may be up to the U.S. Supreme Court to provide the final word.
If you have questions about this post or would like to discuss how your business may be impacted by the Dodd-Frank Act, please contact me, attorney Kenneth Oh, or a member of the Corporate Transactions & Business Law Group at Scarinci Hollenbeck with whom you work.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
If you’re considering closing your business, it’s crucial to understand that simply shutting your doors does not end your legal obligations. Unless you formally dissolve your business, it continues to exist in the eyes of the law—leaving you exposed to ongoing liabilities such as taxes, compliance violations, and potential lawsuits. Dissolving a business can seem […]
Author: Christopher D. Warren
Contrary to what many people think, corporate restructuring isn’t all doom and gloom. Revamping a company’s organizational structure, corporate hierarchy, or operations procedures can help keep your business competitive. This is particularly true during challenging times. Corporate restructuring plays a critical role in modern business strategy. It helps companies adapt quickly to market changes. Following […]
Author: Dan Brecher
Cryptocurrency intimidates most people. The reason is straightforward. People fear what they do not understand. When confusion sets in, the common reaction is either to ignore the subject entirely or to mistrust it. For years, that is exactly how most of the public and even many in law enforcement treated cryptocurrency. However, such apprehension changed […]
Author: Bryce S. Robins
Using chattel paper to obtain a security interest in personal property is a powerful tool. It can ensure lenders have a legal claim on collateral ranging from inventory to intellectual property. To reduce risk and protect your legal rights, businesses and lenders should understand the legal framework. This framework governs the creation, sale, and enforcement […]
Author: Dan Brecher
For years, digital assets operated in a legal gray area, a frontier where innovation outpaced the reach of regulators and law enforcement. In this early “Wild West” phase of finance, crypto startups thrived under minimal oversight. That era, however, is coming to an end. The importance of crypto compliance has become paramount as cryptocurrency has […]
Author: Bryce S. Robins
Earlier this month, the U.S. Supreme Court issued a decision in Ames v. Ohio Department of Youth Services vitiating the so-called “background circumstances” test required by half of federal circuit courts.1 The background circumstances test required majority group plaintiffs pleading discrimination under Title VII of the Civil Rights Act to meet a heightened pleading standard […]
Author: Matthew F. Mimnaugh
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!