Wiest v. Lynch

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In Brief

The Third Circuit determined that a SOX whistleblower is not required to make disclosures that “definitively and specifically” relate to a violation of a particular securities law or rule.

What Happened in Court

In this case, the Third Circuit determined that a SOX whistleblower is not required to make disclosures that “definitively and specifically” relate to a violation of a particular securities law or rule. This came after the case was initially dismissed in 2011. The decision overturned the district court, which had dismissed the case because it said the plaintiff’s communications of his concerns about lavish corporate expenditures at resorts were insufficiently specific.