The U.S. Supreme Court on Monday decided not to hear the case of Trevor Murray, a former UBS bond strategist, who sought to reinstate a $2.6 million jury award in his lawsuit against the Swiss bank. Murray alleged UBS illegally terminated him for refusing to publish misleading reports.
Initially, Murray had won in 2020, but the decision was challenged based on flawed jury instructions regarding retaliation under U.S. law. The Supreme Court previously reinstated the award, suggesting financial whistleblowers need only prove unequal treatment, not a retaliatory intent.
The ongoing legal saga highlights the Sarbanes-Oxley Act's role, which provides protections for employees reporting misconduct. Murray claims he suffered wrongful termination following his whistleblowing on skewed securities research, countered by UBS's stance that his firing was part of larger cost-cutting measures.
(With inputs from agencies.
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