Dodd-Frank Act Protects Whistleblowing in Kuhns v. Ledger

Olshan Litigation Attorney Thomas Fleming represented John Kuhns in Kuhns v. Ledger in which Kuhns alleged that NanoFlex Power Corp, of which he served as Co-CEO and Executive Chairman, terminated his employment in retaliation for his raising concerns about certain representations made to shareholders.  Several commentators have reported the court’s decision that there was an objective basis for Mr. Kuhns’ belief that Defendants had violated Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5, which “prohibit making any material misstatement or omission in connection with the purchase or sale of any security.” Publications about Kuhns v. Ledger can be found here and here.