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December 19, 2016

Posted  January 13, 2017

Virginia-based technology company NeuStar Inc. will pay $180,000 to settle charges involving its severance agreements that impeded at least one former employee from communicating with the SEC.  The SEC’s order found that NeuStar violated a whistleblower protection rule by routinely entering into severance agreements that contained a broad non-disparagement clause forbidding former employees from engaging with the SEC.  Former employees could be compelled to forfeit all but $100 of their severance pay for breaching the clause.  The severance agreements were used with at least 246 departing employees between 2011 and 2015.  NeuStar voluntarily revised its severance agreements promptly after the SEC began investigating and agreed to make reasonable efforts to inform those who signed the severance agreements that NeuStar does not prohibit former employees from communicating any concerns about potential violations of law or regulation to the SEC.  SEC

Tagged in: SEC Whistleblower Reward Program, Whistleblower Protection Laws,