This article was last updated on April 16, 2022
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Following the enactment of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, there has been an avid increase in the rate of retaliation and whistle-blower claims. This statement was given by the Boston-based law firm, Littler Mendelson. It has also added that under the aforementioned laws, whistle-blowers can obtain a reward of nearly 30% from recovery of funds from security violations.
Littler Mendelson has announced that the increase in whistle-blower claims is of 25%, starting from 2009. The law firm represents management in retaliation and whistle-blower cases nationwide. The co-chair of the whistle-blowing and retaliation practices wing said “If the whistle-blowers are the original source of information, they will not just be protected against retaliation – now they will get a huge chunk of change,’’
Attorney of the Pontikes Law LCC in Boston, Rebecca Pontikes who represents employees in whistle blower cases reported that the number of clients has also increased since 2009. However, she suggested that this increase cannot be associated solely with stronger laws.
The protection to whistle blowers was offered back in 2002, through the Sarbanes-Oxley Act.
Pontikes is reported to have said “We’ve had a big decrease in the amount of government ability to monitor large private companies. That decrease has led people to feel more of a need to bring this forward on an individual level.’’
In reality, as employees feel secure due to the physical and financial protection offered by the laws coupled with the financial crises that erupted in 2008, the rate of whistle-blowing has also increased.
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