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First Public Company Receives Benefit of SEC Cooperation Policy—Implications for Whistleblower Claims

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The first public company received credit for its cooperation as a result of the SEC’s policy with respect to cooperation in investigations and enforcement actions announced in January 2010.  The public company, Carter’s, Inc., entered into a non-prosecution agreement.  The SEC charged a former Executive Vice President of Carter’s Inc.... Read More

Topics: Banking, Broker-Dealer, Employment, Insurance, Litigation, Public Companies and Securities

A Compensation Plan That Didn’t Work

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HP’s Chief Executive Officer, Mark Hurd, resigned after an investigation disclosed that Hurd had a “close personal relationship” with an H-P contractor hired by the Office of the CEO and that “Mark never disclosed that.”  According to HP’s General Counsel, “there were instances of compensation and reimbursement for services that were... Read More

Topics: Banking, Employment, Executive Compensation, Public Companies and Securities

Whistleblowers, Dodd-Frank and Sarbanes-Oxley

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The Dodd-Frank Act and the Sarbanes-Oxley Act both have provisions for whistleblowers.  Public companies need to be familiar with all of these provisions. The Dodd-Frank Act provides that if a “whistleblower” provides “original information” in certain judicial or administrative actions, the whistleblower may be entitled to as much as 10... Read More

Topics: Employment, Litigation, Public Companies and Securities

Dodd-Frank and Employment Law

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The Dodd-Frank Act provides a monetary incentive for whistleblowers that provide the SEC with useful information.  The Act includes parallel non-retaliation provisions for whistleblowers.  As a result, human resource professionals need to be aware of the ramifications on their internal policies. Public companies will also have to implement clawback policies... Read More

Topics: Employment