Dodd-Frank Whistleblower Protections Not Retroactive: Judge

Law360, New York (February 24, 2014, 6:43 PM EST) -- The Dodd-Frank Act's whistleblower protections don't apply retroactively, a New York federal judge ruled Friday, nixing an ex-employee's suit against Morgan Stanley & Co. Inc. and saying Dodd-Frank's whistleblower provision was not just a “twin” of the Sarbanes-Oxley Act's whistleblower clause.

U.S. District Judge Paul Engelmayer agreed with Morgan Stanley's argument that former auditor Saeed Ahmad — who accused the company of retaliating against him against for blowing the whistle on deficiencies in its lending practices — hadn't adequately alleged any retaliatory act that took place...
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