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Sarbanes-Oxley News & Developments
Whistle-Blower Claims Mostly DismissedEighty percent of the claims of employees seeking protection under the Sarbanes-Oxley Act have been tossed aside.
> > One of the most frequently used provisions of the Sarbanes-Oxley Act empowers corporate whistle-blowers, explicitly laying out procedures that protect them from being punished by the companies they blow the whistle on. Under the act, such employees are entitled to get their jobs back and be reimbursed for back pay and litigation costs.
As of mid-April, 228 claims have been filed under Sarbanes-Oxley, according to OSHA, which Sarbox put in charge of handling these cases because since 1972 OSHA has administered all federal whistle-blower cases.
Despite the frequency of their claims, however, employees are finding it especially hard to prevail. Through April, OSHA investigators have dismissed more than 80% of the 156 claims examined. On appeal, they do even worse: The plaintiffs won just 2 of 43 cases resolved on appeal.
Source: CFO
Published:2004-06-10
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