The Securities and Exchange Commission today announced settled charges against Monolith Resources LLC, a privately held energy and technology company headquartered in Lincoln, Nebraska, for using employee separation agreements that violated the SEC’s whistleblower protection rules.
According to the SEC’s order, from February 2020 until early March 2023, Monolith used separation agreements that required certain departing employees to waive their rights to monetary whistleblower awards in connection with filing claims with or participating in investigations by government agencies. The SEC’s order finds that Monolith’s separation agreements raised impediments to participation in the SEC’s whistleblower program by having employees forego important financial incentives that are intended to encourage people to communicate directly with SEC staff about possible securities law violations.
‘Enforcement 40’ for 2020
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