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The International Employment Effects of SOX
This blog will address some of the international employment aspects of the Sarbanes-Oxley Act ("SOX"). The applicable situation is as follows: A publicly traded American company, operating in a foreign country, and a non-U.S. citizen employee. The employee discovers a fraudulent accounting practice. That employee brings the practice to the attention of either his superiors or the authorities. Can the company lawfully terminate the employee for reporting this fraudulent practice because the company is operating in a foreign country, using non-U.S. citizen employees? If the situation occurred in the U.S., the answer is clearly no. 18 U.S.C. ??1514A(a)(1). Does the same protection extend beyond the U.S. borders?
Lawsuits May Expand SOX Protection to Mutual Fund Workers
Posted by: Melville Johnson, P.C.
May 29, 2008
Two lawsuits by former Fidelity portfolio mangers may determine whether mutual fund employees are protected by the Sarbanes-Oxley Act, which gave whistleblowers at public companies protection against retaliation. Congress passed the Sarbanes-Oxley Act in 2002, after the collapse of Enron Corporation and WorldCom. Currently, the Sarbanes-Oxley Act does not protect against privately held companies, such as Fidelity.
In Zang v. Fidelity Management & Research Company, the Plaintiff alleges...
Topics
Employment Discrimination
Erisa Retirement Benefits
Federal Civil and Criminal Appeals
Pension Rights
The International Employment Effects of SOX
Trust, Will, and Probate Litigation
Whistleblower
Recent Updates
July 02, 2008
Employee Able to Prove Age Discrimination, Despite Being Placed on a Performance Plan.
June 30, 2008
US Supreme Court Upholds Retaliation Claims Stemming from Racial or Age Discrimination Complaints.
June 25, 2008
Supreme Court to Decide Burden of Proof for Age Discrimination Claims.
June 23, 2008
Employee Who Lacks the Symptoms of Disabling Condition Is Not Recovered from Condition.
June 20, 2008
Female Coach Permitted To Pursue Discrimination Suit
