JP Morgan Ordered to Reinstate Whistleblower and Pay Awards
- posted: May 12, 2016
- Whistleblower Litigation
Federal labor officials have ordered JPMorgan Chase Bank to reinstate an employee who was the victim of wrongful termination after he raised some concerns about the firm’s repeated failure to properly report its financial transactions to federal regulators.
The Occupational Health and Safety Administration (OSHA) announced the decision Monday, March 14. In addition to giving the whistleblower his job back, the company must also pay the employee approximately $200,000 in medical expenses, back pay and compensatory damages.
Employee had reported concerns internally
The employee had worked as a loan delivery operations manager for an office in Iselin, New Jersey. According to OSHA, he had raised concerns about the company’s improper loan recording, and when asked to do so, he refused to lie about the bank failing compliance tests. The company ultimately fired him after he refused to be complicit in its wrongdoing. JPMorgan has not issued any comment regarding the result of the lawsuit.
There are many federal protections afforded to people who blow the whistle on wrongdoing in their companies. In fact, the amount of wrongful termination and general whistleblower lawsuits has skyrocketed in recent years because of the increasing level of federal government support provided to people who risk their position within an organization by making reports.
It’s important for businesses and organizations to take whistleblower claims seriously and to have the capacity to conduct internal investigations when necessary. For further legal guidance on this important issue, meet with an experienced Dallas attorney at Whistleblower Law for Managers right away.