6th Circ. Hands A Landmark Victory To SOX Whistleblowers

Law360, New York (June 3, 2015, 12:23 PM EDT) -- The Sixth Circuit's decision in Rhinehimer v. U.S. Bancorp Investments Inc. on May 28 broadly construing protected conduct under the Sarbanes-Oxley Act is a landmark win for SOX whistleblowers. It signals the demise of the onerous Platone standard of SOX-protected whistleblowing and indicates that the employee-favorable Sylvester standard is now the law of the land.

Judicially Created Loopholes Narrowing SOX Whistleblower Protection

Congress enacted SOX's whistleblower protection provision to combat a "corporate code of silence," a code that "discourage[d] employees from reporting fraudulent behavior not only to the proper authorities, such as the [FBI and U.S. Securities and Exchange Commission], but even internally." S....

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