Enter your email address and start getting breaking law firm and legal news right now!
|Free Market Evaluation - Send us your resume and we will give you free feedback|
Judge Shows Ardor to Whistle-Blowers in Fidelity Case View Count: 83
A Federal Judge in Boston has ruled that mutual fund companies are subject to the Sarbanes-Oxley Act just as other companies who directly hire workers. Mutual fund firms, such as Fidelity Investments, hire management companies to invest their money. Fidelity had argued that because they do not have workers, as such, that the whistle-blower law should not apply to them.
Jackie Hosang Lawson and Jonathan Zang were former employees at Fidelity who witnessed what they saw to be improper actions by Fidelity. Upon notifying their supervisors of the problems, they perceived that they were treated poorly and unfairly. Lawson and Zang filed separate suits against Fidelity, but the two were combined in U.S. District Court.
Lawson’s attorney, Indira Talwani, is quoted by Reuters as saying, “”This is a critical case because Sarbanes-Oxley was designed to protect investors. Mutual funds are the major way that Americans invest their money.”
Judge Douglas Woodlock did not rule for the plaintiffs in their wrongful discharge suits.
Judge Shows Ardor to Whistle-Blowers in Fidelity Case by julie
Tagged: Boston, douglas woodlock, fidelity, fidelity investments, indira talwani, jackie hosang lawson, jonathan zang, mutual fund, mutual fund companies, mutual funds, Sarbanes-Oxley Act, US District Court, whistle blowers
|Job of the Day|
Accountant for Law Firm
Cutting-edge law firm seeks experienced Staff Accountant to join their team! This position offers job security, flexibility, work-life balance, and competitive salary. Candidates should have 7 to 1...