Employee Protection 1521

  • Hello all, I could really use some help.
    After I presented clear, unadulterated evidense of fraud on a federal project a publicly traded firm let me go. They also mistated earnings by USD464,000 for their 4Q last year.
    My accountant told me that I might have some kind of protection under s-ox. Is this true? Who should I contact? What should I do next?
    I could really use some help on this. This company has not only really hurt me on this, but a lot of other folks as well.

  • whistleblowers.org/html/sarbanes-oxley.html
    you can also try a ‘employee protection under sox’ search in google

  • Hi and welcome to forums 🙂 … Some ideas for you below:

    1. If you worked in a state that has ‘at will’ employment, you can be let go for ‘any reason’. The employer will certainly deny that you were let go due to findings of fraud or accounting mistatements, and they will most likely claim other reasons.
    2. I’m sharing this in the context that while you still have a chance of seeking damages as a ‘whistle blower’, this will ultimately need to be decided in the courts. In weighing whether to pursue this action, there’s attorney fees, time, and other considerations regarding seeking damages. You might indeed have a good case here, but you’ll have to produce proof that would convince the courts.
    3. Thus, you’ll need to decide on whether to take those next steps based on the likelihood of success. If you were successful, the SEC would punish the company ‘big time’, but if not you might have to pay substantial monies for attornies and court costs.
    4. You can search Google with the keywords of ‘SOX whistleblower’ to find additional articles or steps.
    5. The following link might help with ideas on seeking employment elsewhere. As I’m actively continuing to build SOX and Project Management skills, this post is devoted to finding a job as a Project Manager. Still, you can substitute almost any job title into some of the general advice on developing resumes and interviewing.
      Career Development information
      Good luck to you 🙂

  • I really appreciate the advice. Right now the company is attempting to come to some type of settlement with me. They know they have a lot of problems. The person responsible for most of the impropriety was terminated 2 days after the company reviewed the documentation that I gave them.
    I’ve gone ahead and contacted an attorney to see what my options are. I was just looking to see if there was some form of public resource capable of holding them accountable.

  • You may also consider reporting the matter as suggested on the SEC website:
    Whistleblower Protection: If you work for a publicly traded company and have been fired, demoted, suspended, threatened, harassed, or discriminated against for reporting a potential shareholder fraud to a supervisor, federal regulator, or member of Congress, then please contact your local OSHA office right away. OSHA is the federal agency that investigates and handles these sorts of ‘whistleblower’ complaints.
    Good luck, Bob

  • I work in the UK for a NASDAQ listed company based in NY.
    Although I am presently employed by this company, they are now making sounds that my job will soon be terminated - largely because of my verbal disapproval given to the the Sales VP, regarding improper order management - to inflate sales figure, altering of sales orders to remove the verbally offered Sale Or return Incentives and other practices that I consider improper
    Where do I stand legally being a UK employee ?
    Realistically - what should i do ?

  • Hi UKW – With SOX enforcement being based entirely on US law and your home being in the UK, your chances of protection appear to be slim to me.
    Hopefully all will go well so you can retain your job, as you’ve done ‘due diligence’ in pointing out possible areas of violations in accounting practices.
    For now, I’d keep good personal documentation while at work and bring your resume up-to-date. Also, if you have to leave the company, I always advise leaving under the best circumstances possible, so folks have a positive impression in case of future references back.
    Hopefully some of our UK members or SOX Gurus here might offer additional advice.
    Good luck to you 🙂

  • Well, firstly the UK does have general employment protection legislation that allows companies to be prosecuted for unfair dismissal. There is also specific whistelblower legislation and protection.
    I would refer you to:
    General Employment Protection Rights: thepersonneldepartment.co.uk/employment_protection_rights.htm
    particularly note, the right not to be unfairly dismissed and also constructive dismissal (i.e. where your employer makes your life hell for speaking out, this can be regarded as unfair dismissal)
    The Public Interest Disclosure Act: opsi.gov.uk/acts/acts1998/19980023.htm
    Public Concern at Work: pcaw.co.uk/index.html
    Additionally, the behaviour of your sales VP seems, on the limited information provided, to be tantmount to fraud. If this happened in the UK then there are a number of criminal statutes that could also apply.
    Lastly, how would your company’s CEO and/or CFO feel about the Vps behaviour? This can/will have a significant bearing as to how things pan out internally.

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