3rd Circ. Lowers Bar For SOX Whistleblowers In Tyco Case
By Ben James
Law360, New York (March 19, 2013, 10:17 PM ET) -- The Third Circuit on Tuesday revived whistleblower claims brought against Tyco Electronics Corp. by an accountant who was allegedly terminated for reporting improper expenditures, a much-anticipated decision that lawyers say expands the scope of the Sarbanes-Oxley Act's retaliation provision in line with the Obama labor department's worker-friendly interpretation.
The appeals court's precedential, 2-1 opinion said a lower court had erred by holding that Tyco accounting department veteran Jeffrey Wiest had to allege that his disclosures to supervisors “definitively and specifically” related to an existing violation of...