Dodd-Frank Act—Reach of “Whistleblower” Provision
Digital Realty Trust, Inc. v. Somers, No. 16-1276
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 prohibits retaliation against “whistleblowers” who “mak[e] disclosures that are required or protected under the Sarbanes-Oxley Act of 2002” and other securities laws. The Dodd-Frank Act defines a “whistleblower” as an “individual who provides … information relating to a violation of the securities laws to the [Securities and Exchange] Commission.” Today, the Supreme Court granted certiorari to resolve a split among the courts of appeals as to whether the Dodd-Frank Act’s anti-retaliation provision applies to individuals who have not reported alleged misconduct to the Securities and Exchange Commission but have filed internal reports under the Sarbanes-Oxley Act or other securities laws.