The U.S. Supreme Court
has decided that it will listen
to arguments on whether mutual fund employees are subject to the the whistleblower protections of the Sarbanes Oxley Act
The case involves complaints filed against the Boston Bohemoth by former Fidelity
employees Jane Hosang Lawson
and Jonathan Zang
In her complaint, Lawson alleged that Fido had "embarked on a campaign to discredit, harass and intimidate her after she raised concerns regarding fund profitability methods. Fidelity had argued that her claims were "without merit."
Meanwhile, in the other complaint, former PM Zang alleged that he got poor reviews and was fired after he complained that a portfolio manager compensation plan, and how it described the calculations for PM pay, was inaccurate and illegal. Fido also argued that these claims were without merit.
The case was heard by the First U.S. Circuit Court of Appeals in Boston, which ruled, in 2012, in favor of Fidelity, and also decided that whistleblower protection to contractors like Fidelity was covered in the Energy Reorganization Act
and the Pipeline Safety Improvement Act
of the University of Washington School of Law
, who is among the attorneys representing the plaintiffs wrote two briefs arguing in favor of the Supreme Court taking the case, to be found here
Also, the National Whistleblowers Center
wrote an amicus brief
in support of the argument.
Meanwhile, Fidelity filed two motions against, to be found here
The case has attracted the attention of a number of news outlets, including the Chicago Tribune
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