IMPORTANT NOTICE FOR POTENTIAL WHISTLEBLOWERS
U.S. Supreme Court Limits Dodd-Frank Anti-Retaliation Protections
The U.S. Supreme Court has ruled in Digital Realty Trust Inc. v. Paul Somers that the anti-retaliation protections of the Dodd-Frank Act apply only to employees who report possible securities law violations first to the Securities and Exchange Commission.
It is clear from this ruling that employees who wish to report wrongdoing and protect themselves from retaliation would be well advised to take their allegations first to the Securities and Exchange Commission before reporting to their employers. Dodd-Frank’s anti-retaliation remedies are substantial. They include reinstatement, an award of double back pay, and payment of attorneys’ fees and other litigation costs.
Employees may submit their claims anonymously to the Securities and Exchange Commission. If you have questions or concerns over your rights as a whistleblower, Sanford Heisler Sharp LLP can help. The firm has a dedicated group of lawyers located in New York, Washington, D.C., and San Diego who deal extensively with Dodd-Frank Act and whistleblower retaliation issues.