United States:
SEC Fines Tech Company For Violating Whistleblower Protection Rules
30 December 2016
Cadwalader, Wickersham & Taft LLP
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The SEC fined a technology company $180,000 for violating
whistleblower protection rules. The technology company entered into
severance agreements that improperly impeded at least one former
employee from communicating information to the SEC. The
company's severance agreements contained a
"non-disparagement" clause that forbade former employees
from engaging the SEC and other regulators "in any
communication that disparage[d], denigrate[d], malign[ed] or
impugn[ed]" the company.
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