Berman Is Good News For Whistleblowers And Their Counsel
Law360, New York (September 18, 2015, 10:03 AM EDT) -- How should an attorney who represents employees advise a client who discovers that her employer may be engaged in securities law violations, and who wants to ensure that the violations cease? Should the attorney advise her to raise her concerns with her supervisors or other officials in her company? Or should the advice be to bypass internal reporting mechanisms and take the matter straight to the U.S. Securities and Exchange Commission? The SEC may take longer to resolve the problem, the employee has the option of reporting the violations to the SEC anonymously, and she may even qualify for a reward under the SEC Whistleblower Program. The employee may prefer to keep the issue within the company, allowing it the opportunity to correct any misconduct and to self-report to the SEC if warranted, but she may be worried about losing her job if she raises her concerns....
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