The Sarbanes-Oxley Act

Posted by Chris Morales on Tue, Sep 20, 2011 @ 08:00 AM

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In reaction to a series of highly-publicized corporate accounting scandals, Congress enacted the Public Company Reform and Investor Protection Act of 2002, which is also known as the Sarbanes-Oxley Act. The Act also includes a new stipulation to shield whistleblowers by prohibiting any sort of retaliation against the employees of publicly traded companies who choose to report fraudulent actions.

More specifically, the Sarbanes-Oxley whistleblower provision applies to particular types of publicly traded companies that are registered under certain federal securities laws. Sarbanes-Oxley may also be applicable to certain subsidiary corporate entities that do not fall under the covered categories if the parent corporation is covered. A San Francisco white collar criminal defense attorney who is knowledgeable in this area can assist you in handling your particular case.

Sarbanes-Oxley further protects employees who report activities that they plausibly assume to be illegal, even if it is later determined by a court that the reported behavior did not go against any laws. This protection encourages employees to report suspicious actions without the fear of retaliation if it turns out that there was a legitimate reason for the act.

Persons who seek to assert their rights as the victim of retaliation under Sarbanes-Oxley must follow certain procedures. Particularly, victims must file a complaint with the Department of Labor within 90 days of the retaliatory act. This time limit will only be extended in limited situations.

If you need the services of a capable San Francisco white collar criminal defense attorney, call Chris Morales today for a free consultation.

Tags: white collar crime, San Francisco Criminal Lawyer, san francisco district attorney, criminal attorney