Outten & Golden LLP Employment Law Blog—Nicholas Sikon
The U.S. Supreme Court's decision this week in Digital Realty Trust, Inc. v. Somers shrinks Dodd-Frank's protections against workplace retaliation for corporate whistleblowers.
The once robust statute now leaves a gaping hole for those employees in the private sector who report securities related violations to their employer. Now, after the Supreme Court's ruling, employees are required to report directly to the Securities and Exchange Commission in order to avail themselves of legal protection under the statute - internal reporting is no longer enough.
Talen Energy has offered one of its top executives a $400,000 bonus to stay with the company through its conversion to a privately owned power production and marketing firm under the control of New York-based private equity firm Riverstone Holdings, a government filing shows.
Talen revealed the agreement with James E. Schinski, its senior vice president and chief administrative officer in documents filed Friday with the Securities and Exchange Commission.
Schinski is essentially a computer expert the company can't do without, said spokesman Todd Martin.
Talen Energy stock took a beating in its first year, but in what's become a familiar scenario in corporate America, its struggles will almost certainly translate into a big payday for its CEO, Paul Farr.
Within months of its June 2015 spinoff from PPL, Talen had lost 70 percent of its value and posted a 2015 loss of more than $340 million, but if its acquisition by New York-based Riverstone Holdings goes through, Farr stands to take more than $3.6 million with him on his way out of his CEO office on Hamilton Street in Allentown.
If Allentown-based Talen Energy is sold, taken over or merged with another company, three of the company's top executives can rest easy.
Talen signed deals with its chief financial officer, chief commercial officer and chief nuclear officer in December, promising that if there is a change in control of the company and they lose their jobs, they'll get severance pay worth twice their annual salaries plus bonus payouts and health benefits.
The deals, which are called change-in-control agreements and are often referred to as "golden parachutes," were filed Monday with the...
Tonight, a dozen jury members decided for the defense in the sex discrimination case that rocked Silicon Valley for a month. Ellen Pao’s marathon dispute with Kleiner Perkins ended with the jury dismissing all four claims. It was a startling defeat. Surprisingly, even the five jury members of Asian descent voted no to most or all the claims, according to Re/code’s Liz Gannes.
Most tech professionals expected a win for Pao. But, the popular opinion told a different story. Comments split along gender lines and men were negative. A few women joined the men, fearing the caustic fight...
Regulations meant to overhaul and strengthen federal oversight of the financial system, which many see as responsible for causing the economic recession, have the added benefit of strengthening employee rights in the workplace. The Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law by President Obama on Wednesday, contains important protections for employees who blow the whistle on corporate wrongdoing. The legislation expands whistleblower protections for employees of financial services companies and other publicly-traded corporations and their subsidiaries by...
Taking her former employer, Investec Henderson Crosthwaite, the financial group, to court was the right decision, according to Louise Barton. “I have no regrets. I’d do it again,” the former media analyst says. The benefits, she believes, outweighed the huge stress of undertaking a legal battle. “You get keyed up about it. It affects your family and makes you unbearable to live with. You are completely consumed by anger and unable to focus on anything else.”
While it is the millions of pounds and dollars claimed by workers who sue their City of London and Wall Street employers on...
Amidst the public outcry over compensation for AIG employees, some key facts have been obscured or overlooked. And the perspective of employees, including the AIG employees, seems to be missing from the discussion.
Americans have good reason to be angry about the failures of their government that contributed to our current predicament, about the greedy and risky behavior of financial institutions, about excessive compensation of executives and bankers, and about taxpayer money being used to pay these people. Not surprisingly, our nation is upset that some high-income earners are...
WHILE the slow economy has left many small businesses scraping to get by, some enterprises are finding opportunity in the carnage. They include an entire industry devoted to distressed companies. When things are booming, this sector is like the lonely Maytag repairman, who doesn’t have much work to do.
Other businesses are not as clearly countercyclical, but they offer products or services that are increasingly in demand. And those that are really nimble can capitalize on the sudden needs of consumers or fellow businesses.
Here are stories of five small businesses that are...