Sarbanes-Oxley Act of 2002 (SOX)

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In Rollag v. Cowen Inc. et al, 2021 WL 807210 (S.D.N.Y. March 3, 2021) – in which the plaintiff alleges that defendants discriminated and retaliated against him in violation of the Family and Medical Leave Act, 29 U.S.C. §§ 2601 et seq., Section 806 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. § 1514A, and…

Read More Arbitration Compelled in Employment Discrimination Case; FAA Held to “Displace” CPLR 7515 Here
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In Sharkey v. J.P. Morgan Chase & Co., 2018 WL 1229831 (S.D.N.Y. March 5, 2018), the court, inter alia, struck down a jury verdict of $563,000 for emotional distress suffered by plaintiff as a result of her alleged retaliatory termination in violation of the Sarbanes-Oxley Act of 2002 (SOX). From the Opinion: If Sharkey is…

Read More Court Strikes Down $563K Emotional Distress Damages Jury Verdict in SOX Case as “Infected With Passion and Prejudice”
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In Nielsen v. AECOM Technology Corp. (decided August 8, 2014), the Second Circuit clarified the standard to be applied when evaluating whistleblower retaliation claims under Section 806 the Sarbanes-Oxley Act of 2002, codified at 18 U.S.C. § 1514A (SOX). Congress enacted SOX “[t]o safeguard investors in public companies and restore trust in the financial markets following the collapse of…

Read More Second Circuit Clarifies SOX Whistleblowing Standard
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In Lawson v. FMR, the Supreme Court recently broadened the reach of the Sarbanes-Oxley Act of 2002, which was enacted following the collapse of Enron Corporation. The whistleblower portion of the Sarbanes-Oxley Act, codified at 18 U.S.C. § 1514A, provides: No [public] company . . . , or any officer, employee, contractor, subcontractor, or agent…

Read More Supreme Court Holds That Sarbanes-Oxley (SOX) Act Protects Employees of Private Contractors
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Oral argument is scheduled in the Supreme Court today in the case of Lawson and Zang v. FMR, LLC (information here).  The decision below is Lawson v. FMR, LLC, 670 F.3d 1 (1st Cir. 2012). The case concerns the scope of protection provided by the “whistleblower” section (Section 806) of the federal Sarbanes-Oxley Act, 18 U.S.C.…

Read More SCOTUS Hears Oral Argument on Whether the Sarbanes-Oxley Act Protects Employees of Privately-Held Contractors or Subcontractors of Public Companies
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In Perez v. Progenics Pharmaceuticals, Inc., the Southern District of New York recently denied defendants’ motion for summary judgment on plaintiff’s claim that his termination violated the Sarbanes-Oxley Act of 2002, 18 U.S.C. § 1514A (SOX). Plaintiff, a Senior Manager of Pharmaceutical Chemistry at defendant who held a Ph.D and a master’s degree in organic chemistry,…

Read More Chemist’s Lawsuit Alleging Retaliatory Termination Under the Sarbanes-Oxley Act Survives Dismissal
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