Retaliation and the Sarbanes-Oxley Act
In 2002 the Sarbanes-Oxley (SOX) Act was signed into law by President George W. Bush in an effort to prevent more corporate and accounting scandals and serious losses of money to investors. This act’s main goal is to protect investors from fraudulent business and accounting practices that could lead them to make investment decisions based upon false and intentionally deceptive information. Under this act, employees who are aware that their company or employer is engaging in unlawful business or accounting practices are responsible for reporting these actions.
Unfortunately, by doing what is right, these individuals may be subjected to employer or co-worker retaliation. If you have suffered any form of retaliation from your company as a result of reporting violations of the SOX Act, the Austin retaliation lawyers of The Melton Law Firm, are prepared to help you to seek the compensation that you may be due. Contact us by calling 512-330-0017.
Penalties for Retaliation
In addition to being able to file a lawsuit against your employer for retaliation, they may be penalized under the SOX Act. These penalties include:
- Up to ten years of incarceration
- Fine of indeterminate amount
- Both a fine and imprisonment
When an employer unfairly and intentionally creates hardships for an employee who was acting in good faith pursuant to federal law by reporting violations of the SOX Act, they should be held responsible for their acts of harassment.
At The Melton Law Firm, our Austin retaliation attorneys will work diligently on your behalf if you have been harmed professionally for your part in abiding by the SOX Act. Contact our experienced legal professionals at 512-330-0017 today.