5th Circ. Says Ex-GE Exec Not A Dodd-Frank Whistleblower

By Matthew Heller (July 17, 2013, 8:35 PM EDT) -- The Fifth Circuit on Wednesday affirmed the dismissal of a suit alleging GE Energy USA LLC fired its country executive for Iraq after he made an internal report of a possible securities law violation, finding he was not a whistleblower under Dodd-Frank.

The appeals court said Khaled Asadi did not qualify for the anti-retaliation protections of Dodd-Frank because he did not report to the U.S. Securities and Exchange Commission his concern that GE Energy had hired a woman closely associated with a senior Iraqi official to curry favor with that official in negotiating a lucrative joint venture agreement.

"Based on our...

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