Law360 writes about the recent Sarbanes-Oxley (“SOX”) decision issued by the Department of Labor’s Administrative Review Board (“ARB”) in Kalkunte v. DVI Financial Services, Inc. According to the article, this decision is significant because it is the first SOX case to survive an appeal to the ARB. In Kalkunte, the ARB affirmed an administrative law judge’s opinion concluding that AP, a privately-held subsidiary of DVI Financial Services, was liable under SOX, even though it was not publicly traded. In reaching this decision, the ARB looked to the Act’s statutory language which holds: “any officer, employee, contractor, subcontractor, or agent” of publicly traded companies liable for terminating whistleblowers.
Ms. Kalkunte was represented by Scott Oswald and Nicholas Woodfield of The Employment Law Group® law firm. For more information about the firm’s Sarbanes-Oxley Whistleblower Practice, click here.