(United States First Circuit) - Affirmed the dismissal of an employee's claim brought under the whistleblower protection provisions of the Sarbanes-Oxley Act of 2002. An employee of an investment brokerage firm claimed that she suffered retaliation after she reported to her supervisors and a company hotline that she suspected certain coworkers to be in violation of federal securities law. Agreeing with the district court, the First Circuit held that her whistleblower claim failed because she did not exhaust administrative remedies before bringing the claim.

Lehman Brothers, the fourth largest investment bank in the US, filed for bankruptcy this morning.   If you have funds which have entered into OTC derivatives contracts with Lehmans under an ISDA Master Agreement you may be considering your posi...