A unique aspect of the lawsuit in Welch v.Cardinal Bankshares Corporation is it:
A)Was the first case to deal with the certification of false financial statements by the CEO and CFO thereby violating the Sarbanes-Oxley Act
B)Was the first case where an individual brought a complaint against an employer under the whistle blowing provisions of the Sarbanes-Oxley Act
C)Reversed the ruling in Ultramares v.Touche
D)Reversed the ruling in Bily v.Arthur Young

Question

Quizplus · Accepted Answer

Welch v. Cardinal Bankshares Corporation was the first case where an individual brought a complaint against an employer under the whistle blowing provisions of the Sarbanes-Oxley Act. The case involved the plaintiff alleging that he was terminated from his job because he reported accounting irregularities to the company's audit committee. The case ultimately settled out of court.

A Unique Aspect of the Lawsuit in Welch V