Metropolitan Life Insurance Co. (MetLife) has been ordered to pay a whistle-blowing former broker, Ronald Roganti about $2.5 million in damages. The ruling states that after the broker had raised concerns about shoddy business pracitices he was mistreated.
Roganti’s claim states that in 1999 he started to become aware of unethical practices and reported them to various executives as well as regulatory agencies. But instead of an inquiry being set up into these practices, his compensation was reduced as well as he was threatened to be terminated.
The case definitely is a step in the right direction. And with the Dodd-Frank Act having passed, which provides even stronger support to whistle blower protections, I wouldnt be surprised to see more of such cases in the future.
