1st Circ. Puts Limits On Whistleblowers Shielded By SOX

Law360, New York (February 3, 2012, 6:09 PM EST) -- The First Circuit on Friday reversed the denial of a motion to dismiss two retaliation suits against Fidelity Investments, saying in a matter of first impression that employees of private companies that are contractors of public companies are not covered by the Sarbanes-Oxley Act's whistleblower protections.

Jackie Hosang Lawson and Jonathan M. Zang, former employees of the mutual fund group, which is a privately held company that was engaged as an agent of public companies — the mutual funds it manages — are not entitled to...
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