Corporate Law : Sarbanes-Oxley Act – Revenue Projections – Wrongful Termination

Stephanie Maniscalco//June 9, 2016//

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Where a vice president of sales brought an action under the Sarbanes-Oxley Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act against his former employer claiming that he was wrongfully terminated in retaliation for his complaints about the general manager’s revenue projections, the district court properly granted the employer’s motion for summary judgment because the plaintiff did not establish that a reasonable person in his position would have believed that the employer was committing a securities violation.

Judgment is affirmed.

Beacom v. Oracle America, Inc. (MLW No. 69256/Case No. 15-1729 – 8 pages) (U.S. Court of Appeals, 8^th Circuit, Benton, J.) Appealed from U.S. District Court, District of Minnesota, Frank, J. (Brock Joseph Specht, Minneapolis, argued for appellant; Steven Andrew Smith and Adam W. Hansen appeared on the brief) (Sarah E. Bouchard, Philadelphia, argued for appellee; Brandon Jay Brigham appeared on the brief).

Read the full text of this opinion. (PDF)