Whistleblower Reports Illegal Trading Policies to the SEC and is Fired
Cleveland, OH (Law Firm Newswire) November 8, 2012 – This lawsuit had its beginnings as a wrongful termination lawsuit, but portions of it were related to Whistleblower’s law.
“This is an interesting case (Ott v. Fred Alger Management Inc et al, U.S. District Court, Southern District of New York, No. 11-04418) for a variety of reasons, but what we want to look at is the whistleblower aspect,” explained Tom Robenalt, a Cleveland whistleblower attorney.
The former portfolio manager filed a claim stating she was fired in retaliation for protesting the money manager’s trading policies, which benefited co-workers at her expense, or acted to sabotage her earnings. This lawsuit is one of the first filed after financial reforms were brought into being in 2010. Its reason for being was to ban companies from getting even with whistleblowers.
The woman who filed a whistleblower’s lawsuit, a former U.S. Army Black Hawk copter pilot, stated that the Chief Executive of the company she worked for brought in a new policy that allowed some fund managers to place trades for their funds, before she was allowed to place hers. She was forced to ask permission to make trades. The up side of this change of policy was that the other funds did well, but hers did not. Frustrated over the state of affairs at work, and regarding the policy as illegal, she filed a formal complaint with the SEC in 2010.
It was not long afterwards that she was on the receiving end of harassment at work, had her bonus drastically chopped and was shuffled out of her position. She filed her wrongful dismissal suit in 2011. “Perhaps somewhat typically, the company responded that the woman had created the situation and that her performance was deteriorating,” added Robenalt. “This is more or less the expected response of a company with something to lose. Point the finger of blame at the whistleblower.”
In court, at initial pleadings, the judge considered there was more than enough evidence for the woman to believe the trading policy was illegal and that by complaining about it, it caused her dismissal. It was hard to dispute that conclusion when the Chief Executive officer was heard to remark to another company individual that he had the backing of the board and that the woman would soon start feeling the heat.
“If you are in a situation where you are witness to illegal behavior on the part of your employer, call me. Let’s talk. We can discuss what you have seen, and how it may be handled, should you choose to file a whistleblower lawsuit,” Robenalt suggested.
Mellino Robenalt LLC
200 Public Sq., Suite 2900
Cleveland, Ohio 44114
Call: (216) 241-1901
- Cleveland Pradaxa Lawyers Welcome Your Questions
August 19, 2012, USA Today reported that Pradaxa had prompted 3,781 people to file adverse side effect reports with the FDA in 2011. More than 500 people had died while taking the drug. February 18, 2014, Cleveland’s newsnet5 “found more complaints were filed with the FDA about Pradaxa than any other prescription drug in both 2011 and 2012.” The FDA has not recalled the blood thinner, but it has issued a number of safety communications concerning the risk of severe bleeding while taking the drug. Back in 2012, Bloomberg stated that Pradaxa manufacturer Boehringer Ingelheim was facing more than 150 lawsuits […]
- Traumatic Brain Injury Lawyer in Cleveland Comments on Senior Study
The current traumatic brain injury lawsuit against the NFL highlights the dangers of suffering a concussion, but a recent study published in the Canadian Medical Association Journal shows senior citizens are also at risk. Why? Even if they attempt to break the fall with their arms, seniors still hit their heads, this video study found. In fact, over 60 percent of hospital admissions for TBI are for seniors over the age of 65. That percentage increases for those over 80 years old. For their 39-month, in-depth look at one particular nursing home, researchers set up cameras in common areas, such […]
- Anesthesia Mistake Attorney Chris Mellino Wins $3 Million Judgment for Patient
Despite the fact a drug allergy was documented on the patient’s medical chart, the defendant administered Scopolamine, which is similar in molecular structure and in the same class of drugs as the one to which the patient was allergic. “Not only that,” says Christopher Mellino, “they were completely caught off-guard when [the patient] went into anaphylactic shock. The anesthesia doctor wasn’t even in the room when she stopped breathing.” According to the complaint filed in the court of Common Pleas in Cuyahoga County, the mother of two “has experienced permanent and substantial physical and emotional pain and suffering, disability, was […]
See other news sources publishing this article. BETA | Tags: Cleveland medical malpractice, Cleveland medical malpractice lawyer, Cleveland whistleblower lawyer, Personal Injury Law Cleveland malpractice lawyer