High Court May Open Floodgates For SOX Whistleblowers

Law360, New York (August 12, 2013, 10:18 PM EDT) -- With the U.S. Supreme Court set to decide whether the Sarbanes-Oxley Act bans retaliation against employees of private contractors, defense counsel are bracing for a possible influx of litigation involving accountants and attorneys who often blow the whistle on Wall Street fraud.

The court agreed in May to clarify whether private contractors of public companies are protected by SOX’s anti-retaliation provision. The First Circuit stirred the controversy in February 2012 by ruling that two former employees of Fidelity Investments, a privately held firm that acted as...
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