§1514A Civil Action to Protect Against Retaliation in Fraud Cases

Summary

Protects workers at public companies (those with securities registered under section 12 or that must file under section 15(d) of the Securities Exchange Act), their covered subsidiaries, and nationally recognized rating agencies, along with their officers, employees, contractors, subcontractors, and agents, from being fired, demoted, suspended, threatened, harassed, or otherwise treated unfairly for reporting or helping investigate fraud. The protection covers giving information or help about conduct the worker reasonably believes breaks 18 U.S.C. 1341, 1343, 1344, or 1348, any SEC rule, or other federal laws about fraud against shareholders. It covers reports to federal agencies, a Member or committee of Congress, or a supervisor (or another person at the employer who can investigate or stop the misconduct), and it also covers filing or helping in court or agency proceedings the employer knows about. If a worker says they were punished for these actions, they may file a complaint with the Secretary of Labor or sue in federal court if the Secretary has not decided within 180 days and the delay is not the worker’s fault. The lawsuit must start no later than 180 days after the violation or after the worker knew about it. A winning worker can get reinstatement with the same seniority, back pay with interest, and payment for special damages like legal and expert fees. These rights do not replace other federal, state, or contract protections. Employers cannot make workers give up these rights in advance, and pre-dispute arbitration agreements that try to force arbitration of these claims are not valid.