Both the New York Stock Exchange (NYSE) and the NASDAQ have actually made it easier for employees of publicly traded companies listed on their exchanges to successfully bring whistleblower retaliation claims. The exchanges did so by passing rules requiring listed companies to develop procedures for whistle-blowing employees to report illegal corporate wrongdoing. Of course, both the NYSE and NASDAQ did not do this out of the goodness of their hearts but were directed to take action by the Securities and Exchange Commission pursuant to Section 406 of the 2002 Sarbanes Oxley Act.
Employment Attorneys Serving Northern and Central New Jersey
There are a number of whistleblower laws that are intended to protect employees who report, object to or refuse to participate in conduct that may be either illegal, fraudulent or endangers the health and safety of individuals and the public. Within the past month, there have been two significant legal developments that have interpreted New Jersey's Conscientious Employee Proctection Act ("CEPA") and the Dodd Frank law passed by Congress in 2010.
Every employee sees and hears things around the workplace. It’s hard not to. Sometimes employees see, hear, or are asked to be involved in something they don’t feel comfortable doing because they believe it is wrong or illegal. Understandably, many of these employees are afraid of the potential repercussions of reporting or protesting what they’ve seen, heard, or been asked to do.