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August 10, 2016

Posted  August 30, 2016

Atlanta-based building products distributor BlueLinx Holdings Inc. will pay a $265,000 penalty to settle charges that it violated securities laws by requiring outgoing employees to sign severance agreements that waived their rights to monetary recovery should they file a charge or complaint with the SEC or other federal agencies.  According to the SEC’s order, BlueLinx added the monetary recovery prohibition to all of its severance agreements in mid-2013, nearly two years after the SEC’s adoption of Rule 21F-17, which prohibits any action to impede someone from communicating with the SEC about possible securities law violations.  SEC

Tagged in: Employment Issues, SEC Whistleblower Reward Program,