Kramer v. Trans Lux, Inc.
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A federal judge in Connecticut determined that a plaintiff need not actually make disclosure to the SEC to be a whistleblower
Summary of Filed Complaint
TELG Client Richard Kramer alleged that he spoke out about problems with the way Trans Lux managed its employee pension plan. After making these disclosures, he was excluded from meetings, his responsibilities were reduced, and ultimately his entire department was eliminated.
What Happened in Court
One of the first federal district court decisions on the definition of whistleblowers under the Dodd-Frank Act, a federal judge held that a whistleblower need not disclose information to the SEC to qualify for the law’s retaliation protections.