Wednesday, August 06, 2008

Fourth Circuit issues SOX opinion declining to reinstate whistleblower

In WELCH v. CHAO, the Fourth Circuit upheld a district court decision declining to reinstate Welch. Welch is a fired bank executive who became the first person to win protection under the whistleblower protection provision of the Sarbanes-Oxley Act. The panel held that Welch failed to explain how his employer's poor accounting practices could be considered a violation of federal law.

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