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U.S. Code as of:
01/19/04
Section 1514A. Civil action to protect against retaliation in fraud cases
(a) Whistleblower Protection for Employees of Publicly Traded
Companies. - No company with a class of securities registered under
section 12 of the Securities Exchange Act of 1934 (15 U.S.C. 78l),
or that is required to file reports under section 15(d) of the
Securities Exchange Act of 1934 (15 U.S.C. 78o(d)), or any officer,
employee, contractor, subcontractor, or agent of such company, may
discharge, demote, suspend, threaten, harass, or in any other
manner discriminate against an employee in the terms and conditions
of employment because of any lawful act done by the employee -
(1) to provide information, cause information to be provided,
or otherwise assist in an investigation regarding any conduct
which the employee reasonably believes constitutes a violation of
section 1341, 1343, 1344, or 1348, any rule or regulation of the
Securities and Exchange Commission, or any provision of Federal
law relating to fraud against shareholders, when the information
or assistance is provided to or the investigation is conducted by
-
(A) a Federal regulatory or law enforcement agency;
(B) any Member of Congress or any committee of Congress; or
(C) a person with supervisory authority over the employee (or
such other person working for the employer who has the
authority to investigate, discover, or terminate misconduct);
or
(2) to file, cause to be filed, testify, participate in, or
otherwise assist in a proceeding filed or about to be filed (with
any knowledge of the employer) relating to an alleged violation
of section 1341, 1343, 1344, or 1348, any rule or regulation of
the Securities and Exchange Commission, or any provision of
Federal law relating to fraud against shareholders.
(b) Enforcement Action. -
(1) In general. - A person who alleges discharge or other
discrimination by any person in violation of subsection (a) may
seek relief under subsection (c), by -
(A) filing a complaint with the Secretary of Labor; or
(B) if the Secretary has not issued a final decision within
180 days of the filing of the complaint and there is no showing
that such delay is due to the bad faith of the claimant,
bringing an action at law or equity for de novo review in the
appropriate district court of the United States, which shall
have jurisdiction over such an action without regard to the
amount in controversy.
(2) Procedure. -
(A) In general. - An action under paragraph (1)(A) shall be
governed under the rules and procedures set forth in section
42121(b) of title 49, United States Code.
(B) Exception. - Notification made under section 42121(b)(1)
of title 49, United States Code, shall be made to the person
named in the complaint and to the employer.
(C) Burdens of proof. - An action brought under paragraph
(1)(B) shall be governed by the legal burdens of proof set
forth in section 42121(b) of title 49, United States Code.
(D) Statute of limitations. - An action under paragraph (1)
shall be commenced not later than 90 days after the date on
which the violation occurs.
(c) Remedies. -
(1) In general. - An employee prevailing in any action under
subsection (b)(1) shall be entitled to all relief necessary to
make the employee whole.
(2) Compensatory damages. - Relief for any action under
paragraph (1) shall include -
(A) reinstatement with the same seniority status that the
employee would have had, but for the discrimination;
(B) the amount of back pay, with interest; and
(C) compensation for any special damages sustained as a
result of the discrimination, including litigation costs,
expert witness fees, and reasonable attorney fees.
(d) Rights Retained by Employee. - Nothing in this section shall
be deemed to diminish the rights, privileges, or remedies of any
employee under any Federal or State law, or under any collective
bargaining agreement.
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