Quick Hits
The unanimous decision in Murray v. UBS Securities LLC held that employees alleging retaliation under the Sarbanes-Oxley Act (codified as 18 U.S.C. Section 1514A) need only prove that their protected activity was a “contributing factor” in an employer’s adverse action against the employee, not that the employer acted with “retaliatory intent.”
Notably, the decision by Justice Sonia Sotomayor distinguished the contributing factor requirement under the Sarbanes-Oxley’s burden-shifting framework as a lower burden than the “motivating factor” standard used in other contexts, most notably regarding employment discrimination under Title VII of the Civil Rights Act of 1964.
Background
Trevor Murray alleged UBS discharged him after he informed his supervisors that two leaders of the trading desk had pressured him to change his independent reporting. According to the decision, his role as a research strategist required him to certify that his reports were independently produced and reflected his own views in accordance with U.S. Securities and Exchange Commission regulations.
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