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Business Crimes Hotline
SEC Settles First Stand-Alone Whistleblower Retaliation Case
On Sept. 29, 2016, the Securities and Exchange Commission (SEC) announced that International Game Technology (IGT), a casino gaming design and production company, had agreed to pay a $500,000 civil monetary penalty to settle charges that it had unlawfully terminated an employee whistleblower. The matter is the first stand-alone whistleblower retaliation case resolved by the SEC pursuant to Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act's whistleblower protection provision, which grants the SEC authority to bring enforcement actions against companies that retaliate against whistleblowers. See generally Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities and Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order in the Matter of International Game Technology (Sept. 29, 2016).
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