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Alyssa M. ToftBlog Posts

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SEC Adopts Amendments to Whistleblower Program Rules

The Securities and Exchange Commission has voted to adopt numerous amendments to the rules governing its whistleblower program. See https://www.sec.gov/news/press-release/2020-219 The whistleblower program serves as a significant tool for the Commission to encourage individuals to come forward with information regarding suspected security fraud. As set forth in the SEC’s press release, “The amendments to the...… Continue Reading
October 7, 2020

The Role of Company Directors During COVID-19

The COVID-19 pandemic has had a dramatic impact on the management of organizations, including throwing managers at all levels into an “all-hands-on-deck” reactive mode.  In large measure, the immediate focus of management-level employees has been on business continuity, particularly moving the organization to a work from home workforce, workforce management including reductions in force by... Continue Reading…
April 10, 2020

The Role of Company Directors During COVID-19

The COVID-19 pandemic has had a dramatic impact on the management of organizations, including throwing managers at all levels into an “all-hands-on-deck” reactive mode.  In large measure, the immediate focus of management-level employees has been on business continuity, particularly moving the organization to a work from home workforce, workforce management including reductions in force by...… Continue Reading
April 10, 2020

The SEC Weighs In on Reporting Related to COVID-19

As previously reported, the SEC is actively responding to the new wave of issues presented by the coronavirus (COVID-19).  However, as early as January 30, 2020, SEC Chairman Jay Clayton issued a statement identifying coronavirus as a potential concern. Chairman Clayton’s statement advised that he had instructed the staff to monitor and provide guidance to...… Continue Reading
March 20, 2020

Teri Wilford Wood Speaks on Board Diversity

Ever since California enacted legislation in 2018 requiring a certain number of female board directors for publicly-held corporations with principal executive offices in California, board diversity continues to be a significant topic.  Maryland, Massachusetts, Colorado, Illinois, New York, Ohio, Washington, New Jersey, Michigan and Pennsylvania have introduced or passed legislation or resolutions related to board...… Continue Reading
December 20, 2019

Dodd-Frank Whistleblower Claims are Arbitrable, Second Circuit Holds

In a win for employers, the Second Circuit Court of Appeals recently held that whistleblower claims under the Dodd-Frank Act are arbitrable.  Daly v. Citigroup Inc., 939 F.3d 415 (2d Cir. 2019).  The Second Circuit also held that a plaintiff’s failure to exhaust administrative remedies related to a Sarbanes-Oxley Act claim serves as a jurisdictional...… Continue Reading
December 2, 2019

Over $2 Billion in Sanctions Ordered by the U.S. Securities and Exchange Commission

In its 2019 Annual Report to Congress, the U.S. Securities and Exchange Commission (“SEC” or “Commission”) whistleblower program announced a “momentous milestone”: The SEC has ordered over $2 billion in sanctions since the inception of the whistleblower program. The Report outlined other key statistics from FY 2019.  Approximately $60 million was awarded to eight individuals...… Continue Reading
November 21, 2019

Ninth Circuit Rules Alleged FCPA Violation Cannot Support SOX Claim

In Wadler v. Bio-Rad Labs., Inc., the Ninth Circuit narrowed the circumstances under which a plaintiff can prove a Sarbanes-Oxley Act (“SOX”) claim. Sanford Wadler, the former general counsel of Bio-Rad Laboratories, Inc., alleged that during his tenure, he raised concerns that Bio-Rad violated the Foreign Corrupt Practices Act (“FCPA”) in connection with certain business...… Continue Reading
March 8, 2019

Tenth Circuit Rules that False Claims Act (FCA) Does Not Cover Post-Employment Retaliation

In a win for employers, the Tenth Circuit Court of Appeals recently held that “…the False Claims Act’s anti-retaliation provision unambiguously excludes relief for retaliatory acts occurring after the employee has left employment.” Potts v. Center for Excellence in Higher Education, Inc., No. 17-1143 (10th Cir. Nov. 6, 2018) (emphasis added). Background Debbi Potts, a...… Continue Reading
November 13, 2018

California Law Pushes Virtue of Diversity Requiring Females on Boards of Directors

California Governor Jerry Brown recently signed Senate Bill 826 into law which requires publicly-held corporations with principal executive offices in California to have a certain number of females on their boards of directors. The new law sets forth phased requirements for these corporations. By the end of 2019, each covered company must have at least...… Continue Reading The post California Law Pushes Virtue of Diversity Requiring Females on Boards of Directors appeared first on California Workplace Law Blog.
October 4, 2018

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