Among the Dodd-Frank Wall Street Reform and Consumer Protection Act’s key provisions is the anti-retaliation provision, which provides whistleblowers a private right of action against employers who retaliate against them for reporting wrongdoing. However, Dodd-Frank does not specify to whom the whistleblower has to report in order to qualify for anti-retaliation protection.
Several district court cases have concluded that protection exists for individuals who disclose to someone other than the SEC. Now, in the only Circuit Court decision on the issue, Asadi v. GE Energy (USA) LLC, 2013 U.S. App. Lexis 14470 (5th Cir. 2013), the Fifth Circuit has just held that the anti-retaliation provision creates a private cause of action only for those who provide information directly to the SEC.
Join Foley attorneys Courtney Worcester and Michael Thompson as they discuss the anti-retaliation provision, the various approaches taken by district courts when confronted with the issue, the Asadi holding, and its implications for employers and whistleblowers alike.
For additional information, please contact Katie Egan at firstname.lastname@example.org or 312.832.4510.