News & Analysis as of

Separation Agreement Employment Contract

Troutman Pepper Locke

New York Senate Passes First-in-the-Nation Bill Requiring Mandatory Review and Revocation Period for All Severance Agreements

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Under current law, New York employers are statutorily required to provide a 21-day review and seven-day revocation periods in employment separation agreements in two scenarios: (1) if the employee is 40 or older and the...more

Bradley Arant Boult Cummings LLP

Whistleblower Language in Separation Agreements Results in Large Settlements with SEC

On September 9, 2024, the Securities and Exchange Commission (SEC) announced settlements with seven public companies relating to their use of separation agreements that the SEC says violate whistleblower protection rules by...more

Fenwick & West LLP

SEC Settles Seven Whistleblower Protection Actions

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On September 9, the SEC settled charges against seven public companies for violations of the whistleblower protection rule. According to the SEC’s orders, among other things, these companies violated Rule 21F-17(a) by...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Three Key Considerations in Crafting Effective Multistate Separation Agreements

One of the main reasons for a separation agreement with an employee is to obtain an effective release of claims against the employer. However, ensuring release agreements are effective and enforceable is becoming increasingly...more

Dorsey & Whitney LLP

Companies Subject to U.S. Jurisdiction Should not Restrict Personnel from Being SEC Whistleblowers, or Receiving SEC Whistleblower...

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SEC rules prohibit taking “any action” to impede an individual from communicating directly with the SEC about a possible securities law violation, including by enforcing, or threatening to enforce, a confidentiality...more

Ballard Spahr LLP

Are Whistleblower Protection Violations the New SEC Sweep?

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The Securities and Exchange Commission (SEC) continues to investigate companies for including language in their employment and separation agreements or retail client settlement agreements that potentially discourages...more

BCLP

SEC Again Cracks Down on Companies That Restrict Whistleblowers

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As discussed in our December 15, 2023 client alert, the SEC has waged an aggressive effort to enforce alleged violations of the whistleblower protection rule.  On September 9, 2024, the SEC announced settled charges resulting...more

FordHarrison

New York Employers Now Face Yet Another Change in their Ability to Obtain Confidentiality and Enforcement of Nondisparagement...

FordHarrison on

New York employers who use separation agreements or settle claims of harassment, discrimination, or retaliation must ensure they comply with a new amendment to Section 5-336 of the New York General Obligations Law....more

Akerman LLP - HR Defense

Jingle All the Way to the SEC: Employers (Even Privately Held) Under Scrutiny for Language in Separation Agreements Impeding SEC...

While jingle bells have only just begun to ring, the U.S. Securities and Exchange Commission (SEC) enforcement bells have been ringing steadily throughout year. In recent months, the SEC announced significant settlements with...more

Troutman Pepper Locke

A Mixed Bag for Employers: New York Revises Requirements for Confidentiality Provisions in Employee Separation Agreements

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Q: I heard New York amended the law on nondisclosure provisions in employee settlement agreements. What do I need to know?...more

Foley & Lardner LLP

Taxes Are Not the Only Thing to Worry About in Washington — Employers Face Stiff Fines for Violating Washington, D.C.’s Ban on...

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Share on Twitter Print Share Back to top While many state legislatures have jumped on the Federal Trade Commission’s (FTC) bandwagon by enacting prohibitions on restrictive covenants (which includes both non-competition and...more

Kohrman Jackson & Krantz LLP

NLRB Targets Non-Competes in Ohio

The National Labor Relations Board (NLRB) has been on a mission to curtail the use of non-compete and related restrictive agreements in employment contracts across the United States. The federal agency has continued its...more

Dinsmore & Shohl LLP

SEC Enforcement Orders Issued for Employment & Separation Agreement Terms

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The SEC issued enforcement orders against three companies for including terms in their employment and separation agreements that violated Rule 21F-17(a) of the Securities Exchange Act of 1942, commonly known as the...more

Littler

SEC Continues to Attack Non-Disclosure Agreements and Personnel Policy Provisions that Could Impede Employees from Reporting...

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The SEC continues to review non-disclosure agreements and other confidential business information provisions of publicly traded companies to ensure whistleblowers are not restricted from freely communicating with the agency...more

Holland & Knight LLP

SEC Settlements Over Whistleblower Protections Pile Up

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As the SEC closed its fiscal year, it filed three separate enforcement actions against companies for purported violations of Rule 21F-17 under the Securities and Exchange Act of 1934, which prohibits persons from impeding...more

Goodwin

Employers Are Strongly Encouraged to Revisit Whistleblower Protection Language in Agreements and Policies in Light of Recent Legal...

Goodwin on

On Friday, September 29, 2023, the Securities and Exchange Commission (the “SEC”) issued an order that censured D. E. Shaw & Co., L.P., a registered investment advisor in New York, and assessed a civil penalty of $10,000,000...more

Wiley Rein LLP

Arbitration Award for Amounts Owed Under Separation Agreement Not Covered Loss

Wiley Rein LLP on

In a win for Wiley’s client, the United States Court of Appeals for the Ninth Circuit, applying California law, held that no coverage was available for an arbitration award awarding amounts owed under a CEO’s separation...more

Parker Poe Adams & Bernstein LLP

[Webinar] Are Big Changes for Employers on the Horizon? - May 24th, 10:00 am - 11:00 am EDT

2023 has already seen a number of major developments for employers in the areas of noncompetition agreements, terms of settlements and separations with employees, and more. Additionally, the U.S. Supreme Court is set to rule...more

Lathrop GPM

NLRB Finds Confidentiality and Non-disparagement Provisions in Separation Agreement to be Unlawful...Are Handbook Policies Next?

Lathrop GPM on

A National Labor Relations Board (the Board) decision issued this week served notice on employers that they need to carefully consider the use of confidentiality and non-disparagement provisions in any employment-related...more

Verrill

Nondisclosure Provisions in Maine: Are Your Agreements Compliant?

Verrill on

In late 2022, a new Maine law took effect restricting the use and reach of nondisclosure provisions in Maine employment agreements. The new law, Nondisclosure Agreements in Employment, 26 M.R.S. § 599-C, is one of the most...more

Littler

New Year, New Workplace Fairness Act Requirements for Oregon Employers

Littler on

Since October 1, 2020, Oregon employers have operated under the Workplace Fairness Act (“OWFA”), which restricts employers from including confidentiality, non-disparagement, and no-rehire provisions in settlement agreements...more

Littler

Dear Littler: How should employers revise their releases, separation agreements, and settlement agreements in light of the Speak...

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Dear Littler: Considering the recent passage of the federal Speak Out Act limiting the use of pre-dispute nondisclosure and non-disparagement clauses involving sexual assault and sexual harassment claims, what impact will...more

Nelson Mullins Riley & Scarborough LLP

NLRB Changes Position on Certain Confidentiality and Nondisparagement Provisions in Employee Agreements

M&A transactions often include special bonus, severance and/or release agreements for some or all employees. These agreements have generally included provisions requiring the employee (1) to keep confidential the amount of...more

Nelson Mullins Riley & Scarborough LLP

California Continues to Whittle Away Non-Disclosure and Non-Disparagement Clauses in Employee Settlement and Separation Agreements

California, effective 2022, will prohibit employers from incorporating non-disclosure and non-disparagement clauses in agreements signed on or after Jan. 1, 2022 unless they allow employees to discuss or disclose information...more

Gray Reed

Increased Scrutiny Surrounding Noncompete Agreements During the Pandemic

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Since the current economic downturn began in February 2020 as a result of the COVID-19 pandemic, noncompete agreements have become increasingly scrutinized nationwide, and courts have become more reluctant to enforce them. ...more

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