A former sales executive for Spectrum in San Antonio claims she was fired from the company in retaliation for reporting allegations of securities frauds to her bosses. She has since filed a federal lawsuit against Spectrum’s parent company, Charter Communications Inc., and seeks punitive damages, lost wages and a return to her job.
In filing the lawsuit, the whistleblower, Hether McCullar, claims her firing was a violation of whistleblower protections that exist due to the Sarbanes-Oxley Act. She worked selling internet services to large businesses and corporations during her time at Spectrum and its predecessor, Time Warner Cable. She claims she was fired after notifying employers that other employees at Spectrum were purposefully misclassifying accounts as new revenue that “should have been reported as renewals with a downgrade in revenue.”
The result of these alleged acts would be that it would make it look as though the company is growing when it really is not. This could have an effect on stock prices, as Wall Street would see the growth as a positive sign for the company. That means the company would have been artificially inflating its stock prices and giving false encouragement to investors.
According to the suit, approximately half of the $4 million in monthly new business recorded by Charter in 2017 was actually not new business, thanks to these illicit practices.
The case is currently ongoing. McCullar was just terminated from her position in August.
For more information about the steps you should take if you believe you have been wrongfully terminated from your job due to acting as a whistleblower, contact an experienced attorney at Kardell Law Group.