Supreme Court Limits Definition of ‘Whistleblower’ in Potentially Hollow Victory for Public Companies

Thomson Reuters
6 minute read | March.19.2018

On February 21, the U.S. Supreme Court issued its opinion in Digital Realty Trust, Inc. v. Somers, a long-anticipated case that clarifies who is protected as a “whistleblower” under the Dodd-Frank Act’s anti-retaliation provisions.

In a unanimous decision penned by Justice Ginsburg, the Court held that the Dodd-Frank Act protects an individual only if he or she has reported a securities law violation to the U.S. Securities & Exchange Commission (SEC) — internal reports are not sufficient.

Originally published in Thomson Reuters; reprinted with permission.

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Christopher Regan Partner, White Collar, Investigations, Securities Litigation & Compliance, Strategic Advisory & Government Enforcement (SAGE)

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White Collar, Investigations, Securities Litigation & Compliance
Strategic Advisory & Government Enforcement (SAGE)

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Christopher Regan Partner

Washington, D.C.

Chris has represented numerous individual defendants in parallel proceedings involving the Department of Justice (DOJ), the SEC and state attorneys general investigations, as well as administrative and/or regulatory enforcement litigation with agencies such as the Federal Housing Finance Agency (FHFA), Federal Deposit Insurance Corporation (FDIC), the Federal Reserve and the Office of the Comptroller of the Currency (OCC).

His broad range of experience includes conducting internal investigations and the defense of criminal and/or grand jury investigations involving accounting fraud, disclosure issues, internal controls and corporate governance, tax fraud, Foreign Corrupt Practices Act (FCPA) violations, antitrust violations, mail and wire fraud, theft of trade secrets and a wide array of environmental crimes. He has been involved in all aspects of the SEC’s enforcement program including the Wells process and the emerging issues surrounding the agency’s whistleblower programs and employee protections thereunder.

His environmental practice ranges from conducting internal investigations to trial defense, with a strong focus on the unique suspension and debarment issues that arise under the Environmental Protection Agency's (EPA) program. In addition to his civil and criminal enforcement experience, Chris is proficient with lender liability issues, environmental due diligence, toxic tort ligation, superfund cost recovery and contribution actions and compliance planning for environmental health and safety issues.

Chris is recognized in Chambers as a Recognized Practitioner in D.C. White Collar Crime & Government Investigations, in Legal 500 for Corporate Investigations and White Collar Criminal Defense, and Best Lawyers in America in the fields of Criminal Defense: White-Collar, Corporate Governance Law, Corporate Compliance Law, and Litigation - Securities.

Prior to joining Orrick, Chris was a partner at Buckley LLP.