Publicly traded companies are required to report accurate financial information to the public. Employee who find out their company is not reporting correct accounting or financial information can blow the whistle. There is a section in the Sarbanes Oxley Act that protects whistleblowers and allows them to file a lawsuit. This page was designed to offer some general information on who qualifies as a sarbanes oxley act whistleblower. Should you contact the Bohm Law Group for more information? Read on to learn more about the following topics:
- Whistleblower Basics
- Sarbanes-Oxley whistleblower
- What Types of Reporting is Protected by the Sarbanes-Oxley Act?
- What Can I Recover as a Whistleblower?
- Contacting an Attorney
It’s important to remember that while this page discusses certain legal subjects pertaining to employment law, it is not intended as a substitute for speaking directly with an attorney’s office. The law is complex and no informational webpage could thoroughly cover all the aspects of filing a whistleblower case. If you feel your employer has violated certain laws and you might be entitled to sox whistleblower protection, or if you have questions about who qualifies as a sarbanes oxley act whistleblower, contact one of our attorneys for more information.
A whistleblower is an employee who stands up for what is right and calls attention to workplace violations of law. There are a number of different types of whistleblower actions that deal with different types of violations— these include cases ranging from workplace safety, refusing to break the law, to complaining about patient safety to the employer.
Accordingly, there are a number of different types of laws that protect whistleblowers from employer retaliation at both the state and federal level. This page details the Sarbanes-Oxley whistleblower law and who qualifies for sox whistleblower protection. If you still have questions about sox whistleblower protection, contact one of our awesome lawyers to see if we can help.
Basics of Sarbanes-Oxley’s Protections
The Sarbanes oxley act of 2002, or SOX act for short, was enacted in 2002. It is named for the legislators who authored it, US Senator Paul Sarbanes and U.S. Representative Michael Oxley.
The act was designed to protect employees of publically traded companies who report violations of the Securities and Exchange Act of 1934. It is also known as the Public Company Accounting Reform and Investor Protection Act.
Under sections of the SOX act — specifically 18 U.S. Code § 1514(a) — companies with registered securities are forbidden from retaliating against, or otherwise harassing any SOX whistleblower that assists with an investigation into violations of the Securities and Exchange Act. The types of investigators a SOX whistleblower might assist include FBI or SEC investigators, other law enforcement officials, members of Congress, or persons with supervisory authority over the employee.
The types of companies covered by the SOX act include any number of corporate entities that are publicly traded or whose securities are registered under federal securities laws. It’s important to keep in mind that sox whistleblower protection exists even if the reported company activity turns out not to be a violation of law. It only matters that the SOX whistleblower reasonably believed a violation occurred. If you believe you qualify as a sarbanes oxley act whistelblower, contact our office to see if we can help.
What Type of Reporting is Protected by the Sarbanes-Oxley Act?
The SOX act protects employees of publically traded companies and other entities who report the following violations of law:
- Mail Fraud
- Wire Fraud
- Bank Fraud
- Securities Fraud
- Fraud against shareholders
As discussed in the previous section, a sarbanes oxley act whistleblower might report any of the above-mentioned activities to a law enforcement official, member of Congress, or a supervisor. If you feel you were retaliated against as a result of whistleblowing activities protected by the Sarbanes-Oxley Act, contact our office immediately to discuss your case.
What Can I Recover as a Sarbanes-Oxley whistleblower?
According to 18 US Code §1514A(c), an employee who wins in a SOX act case is entitled to “all relief necessary to make the employee whole.” This means the employee could be reinstated to his or her former position, receive back pay and special damages (pain and suffering), as well as litigation costs including attorney fees. To learn more about the remedies available to a sarbanes oxley act whistleblower, contact our office.
Contacting an Attorney
A SOX whistleblower that has experienced retaliation from an employer should not hesitate to contact an attorney. Federal law is complex and subtle, and a sarbanes oxley act whistleblower will need an experienced professional to help navigate the judicial system. A qualified attorney is vital to helping a SOX whistleblower do battle with powerful employers, who are sure to have a qualified attorney — if not multiple attorneys — of their own.
If you feel you qualify as a Sarbanes-Oxley whistleblower and have questions about sox whistleblower protection, contact our office to speak with one of our attorneys and find out what we can do to help.