Narrow Reading Dulls SOX Retaliation Rules, Justices Told

Law360, New York (November 4, 2013, 8:03 PM EST) -- Two ex-employees hoping to revive whistleblower claims against Fidelity Investments told the U.S. Supreme Court on Wednesday that the financial firm's narrow reading of the Sarbanes-Oxley Act would render the statute's prohibition against retaliation by contractors and subcontractors meaningless.

The high court agreed in May to hear former Fidelity employees Jackie Hosang Lawson and Jonathan M. Zang's appeal of a First Circuit ruling finding that a person who works for a privately held company isn't an “employee” under SOX's whistleblower language, even if that private company is a contractor for...
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