Whistleblower Claim Tossed By 5th Circuit

NEW ORLEANS (CN) - The 5th Circuit has tossed out a whistleblower complaint accusing Stewart Enterprises of firing three employees in retaliation for challenging the company's alleged practice of charging customers bogus interest.

Judge DeMoss said the lawsuit fails because plaintiffs did not actually believe that their employer had acted with "an intent to deceive, manipulate or defraud its shareholders," as required by under the Sarbanes-Oxley Act. See ruling.

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