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August 16, 2016

Posted  August 30, 2016

California-based health insurance provider Health Net Inc. will pay a $340,000 penalty for illegally using severance agreements which required outgoing employees to waive their ability to obtain monetary awards from the SEC’s whistleblower program.  According to the SEC’s order, Health Net violated federal securities laws by requiring departing employees to waive their right to file applications for SEC whistleblower awards in exchange for severance payments and other post-employment benefits.  SEC

Tagged in: Employment Issues, SEC Whistleblower Reward Program,