Why The 5th Circ. Was Wrong In Asadi V. GE Energy

Law360, New York (February 14, 2014, 4:09 PM EST) -- The Fifth Circuit’s decision in Asadi v. GE Energy LLC, 720 F.3d 620 (5th Cir. 2013), occupies an interesting legal nether realm. On the one hand, it is the first appellate court to address the issue of who qualifies as a whistleblower under the Dodd-Frank Act. On the other hand, it is out of step with a number of lower court decisions and the U.S. Securities and Exchange Commission itself in its reading of the relevant statute.

This article seeks to crystallize the question of statutory construction Asadi sought to resolve, first by way of reviewing the statute itself. Second, the...

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