Hopefully the New York courts would still recognize that, at least in cases relating to the securities industry, protection should be afforded where reliance on the handbook provision protecting the employee is shown. See Mulder v. Donaldson Lufkin & Jenrette, 208 AD2d 301 (1st Dept. 1995).
Most firms in the securities industry have had such provisions since the 1990′s, when the SEC concluded that employees at Kidder Peabody, which collapsed as result of alleged wrongdoing, knew about the wrongdoing but were afraid to report it. The SEC therefore concluded that employees should be protected.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
