ExxonMobil ordered to reinstate and pay $800,000 to 2 employees unlawfully terminated for this reason
ExxonMobil Corp. XOM was ordered last week by the Occupational Safety and Health Administration (OSHA) to quickly reinstate two employees and pay them more than $800,000 in back wages, interest and compensatory damages.
What happened: Suspected the employees leaked information to the Wall Street Journal, Exxon unlawfully fired them, according to a federal whistleblower investigation, Insider reported this week.
The Journal reported that the oil and gas company may have overstated production forecasts and reported values for oil and gas wells in Texas' Permian Basin in September 2020.
According to the article in question, Exxon may have been wrong in its prediction that drilling speed would improve significantly over the next five years.
Exxon fired two IT professionals who raised concerns about the company's use of assumptions in late 2020, according to the OSHA investigation.
Exxon said it fired one of the scientists for mishandling confidential company data and the second for displaying a "negative attitude", seeking alternate employment and losing management's trust.
>OSHA later learned that Exxon knew one of the scientists was a relative of a source cited in the Wall Street Journal article and had access to the leaked information.
Why it matters: Communication with The Journal, which involved alleged corporate violations according to OSHA, was found to be protected activity under Sarbanes-Oxley.
The two scientists have not been identified as sources for the article.
"ExxonMobil's actions are unacceptable. The integrity of America's financial system depends on companies accurately reporting their financial condition and assets," the assistant secretary for safety and health told the work, Doug Parker.
“Whistleblower protection is critical to ensuring the proper functioning of financial disclosure laws. As was the case in this case, OSHA will aggressively protect the rights of employees who raise related concerns. financial irregularities or potential fraud against shareholders."
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
ExxonMobil Corp. XOM was ordered last week by the Occupational Safety and Health Administration (OSHA) to quickly reinstate two employees and pay them more than $800,000 in back wages, interest and compensatory damages.
What happened: Suspected the employees leaked information to the Wall Street Journal, Exxon unlawfully fired them, according to a federal whistleblower investigation, Insider reported this week.
The Journal reported that the oil and gas company may have overstated production forecasts and reported values for oil and gas wells in Texas' Permian Basin in September 2020.
According to the article in question, Exxon may have been wrong in its prediction that drilling speed would improve significantly over the next five years.
Exxon fired two IT professionals who raised concerns about the company's use of assumptions in late 2020, according to the OSHA investigation.
Exxon said it fired one of the scientists for mishandling confidential company data and the second for displaying a "negative attitude", seeking alternate employment and losing management's trust.
>OSHA later learned that Exxon knew one of the scientists was a relative of a source cited in the Wall Street Journal article and had access to the leaked information.
Why it matters: Communication with The Journal, which involved alleged corporate violations according to OSHA, was found to be protected activity under Sarbanes-Oxley.
The two scientists have not been identified as sources for the article.
"ExxonMobil's actions are unacceptable. The integrity of America's financial system depends on companies accurately reporting their financial condition and assets," the assistant secretary for safety and health told the work, Doug Parker.
“Whistleblower protection is critical to ensuring the proper functioning of financial disclosure laws. As was the case in this case, OSHA will aggressively protect the rights of employees who raise related concerns. financial irregularities or potential fraud against shareholders."
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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