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Whistleblowers Beware Following Supreme Court Ruling
In an opinion written by Justice Ruth Bader Ginsburg, the Supreme Court ruled unanimously in favor of a company - Digital Realty Trust - that fired an employee for reporting to company officials that other employees were hiding cost overruns.Simply stated, employees must bring potential corporate wrongdoing directly to the attention of the SEC in order to get that protection, Justice Ginsburg wrote.
The whistleblower in this case is not shielded by anti-retaliatory laws under Dodd-Frank, the financial reform act passed in 2010, and under parts of the Sarbanes Oxley financial transparency laws, which were signed into law following the collapse of Enron.
According to Phillips & Cohen partner Sean McKessy, legal at experts had warned that if Digital Realty won its case, then whistleblowers are more likely to go straight to federal investigators - which could end up leading to more fines or criminal charges for corporate malfeasance.
