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Compliance Hotline

By ALM Staff | Law Journal Newsletters |
April 01, 2004

Employer with Under 300 Shareholders Not Liable Under Whistleblower Law

The Department of Labor's Administrative Review Board has ruled that under ' 1514A of the Sarbanes-Oxley Act, a publicly traded company with less than 300 shareholders at the beginning of the fiscal year is not subject to the law's whistleblower provisions. Flake v. New World Pasta Co., DOL ARB, No. 03-126 (Feb. 25, 2004).

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