Tennessee Bank Must Rehire Whistleblower and Pay Him $1 Million
The million-dollar paycheck includes back wages, interest, attorney's fees, compensatory damages and other relief.
March 21, 2010 at 08:00 PM
2 minute read
The original version of this story was published on Law.com
The Sarbanes-Oxley Act protects corporate whistleblowers who report financial fraud and violations of Securities and Exchange Commission rules. In a case involving a Tennessee bank officer who was fired in 2008 after reporting alleged irregularities in internal controls and insider trading, the Occupational Safety and Health Administration (OSHA) announced it is ordering the bank to reinstate the employee and pay him more than $1 million in damages:
“The U.S. Department of Labor's Occupational Safety and Health Administration has ordered Tennessee Commerce Bank in Nashville to reinstate a former corporate officer and pay him more than $1 million in back wages, interest, attorney's fees, compensatory damages and other relief. The department found the bank had fired the individual in violation of the whistleblower protection provisions of the Sarbanes-Oxley Act of 2002.”
Read the complete OSHA news release: http://www.dol.gov/opa/media/press/osha/osha20100332.htm
The Sarbanes-Oxley Act protects corporate whistleblowers who report financial fraud and violations of Securities and Exchange Commission rules. In a case involving a Tennessee bank officer who was fired in 2008 after reporting alleged irregularities in internal controls and insider trading, the Occupational Safety and Health Administration (OSHA) announced it is ordering the bank to reinstate the employee and pay him more than $1 million in damages:
“The U.S. Department of Labor's Occupational Safety and Health Administration has ordered Tennessee Commerce Bank in Nashville to reinstate a former corporate officer and pay him more than $1 million in back wages, interest, attorney's fees, compensatory damages and other relief. The department found the bank had fired the individual in violation of the whistleblower protection provisions of the Sarbanes-Oxley Act of 2002.”
Read the complete OSHA news release: http://www.dol.gov/opa/media/press/osha/osha20100332.htm
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