Karl Heideck Attorney
Since 2015, Karl Heideck has been a hire listed council attorney. He practices independently in the state of Pennsylvania, but he has worked for various firms in the state of Philadelphia previously, in many different legal positions within the firms. His main practice includes helping employers with compliance services and risk management.
Karl Heideck obtained his degree of law in 2009, from James E. Beasley school of Law at Temple University. Prior to that, he obtained his undergraduate degree a few years earlier in 2003 from Swarthmore College. While he does spend the majority of his time actually practicing the law helping companies with their risk management, Heideck takes some time to write on his blog, which helps readers understand the basics of law and ongoing issues. The blog is titled Inside The Mind of Karl Heideck.
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When applying for a new job in any state, the new employer is legally allowed to ask you about your salary from your previous employer, this is no longer the case. In Philadelphia, it is now prohibited for an employer to ask for this information. This law was initiated in January of 2017, and passed in June of the same year. The passing of this law makes Philadelphia the first city in the United States to prohibit this. It prohibits any way that a company may find out someone’s previous salary, they are not allowed to directly ask the applicant, do research without the applicant’s knowledge, making the applicant tell their salary in order to obtain the job, and some others with specific details as well. Anyone who violates this law will receive a fine up to $2,000.
The main people who will be affected by this are corporations who are operating out of the city. On many occasions, employers and companies will use the knowledge of applicant’s previous salaries to base their starting salary off of with the new company. This tactic is used everywhere. Karl Heideck states that he is unsure whether or not the law will remain, as it has had it’s fair share of bumps along the road in order to get it passed.
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A client of Labaton Sucharow recently received the second highest award ever given by the SEC under their whistleblower program. The Securities and Exchange Commission, or SEC, is an agency within the Federal Government that regulates and proposes laws and rules regarding the nation’s security industry, including electronic securities, stocks, and bonds. A security is a financial instrument of either a debt or an equity that denotes ownership of a publicly traded asset or item of monetary value such as gold or other natural resources.
Labaton Sucharow is the first law practice of its kind who solely represents whistleblowers involved in exposing wrongdoing related to the Securities and Exchange Commission. The firm guarantees confidentiality for whistleblowers to protect them from retaliation by their employers. Labaton Sucharow has a team of financial experts, accountants, attorneys, and investigators with experience in law enforcement in order to provide their clients with the very best representation.
The SEC whistleblower program began six years ago under the Dodd-Frank Act, an extensive piece of legislation overseeing a tremendous overhaul to the United States financial system. The program put in place protections for whistleblowers as well incentives for reporting the breaking of federal law. Whistleblowers are offered a reward from between ten to thirty percent of all monies collected in successful litigation.
$17 million was awarded to the Labaton Sucharow client who exposed gross violations to federal law. The individual had provided information which led to sanctions on a large financial institution. The SEC does not disclose whether whistleblowers had a hand in providing key testimony in any particular case so that whistleblowers’ identity will not be inadvertently revealed. This protects them from losing their jobs or from being blacklisted.
Jordan A. Thomas, lawyer for SEC whistleblowers and Chair of Labaton Sucharow, expressed pride over the win and said that it takes a great deal of courage for whistleblowers to report violations while others are content to maintain the status quo. He said that because his client came forward, it would prevent further harm from being done to investors.
Mr. Thomas predicted that in the coming years more cases will come the courts that were introduced by whistleblowers. He added that many of these will be some of SEC’s, “largest and most significant cases”. Mr. Thomas represented the first case in which an employer was charged with retaliating against an employee, and he won a case on behalf of a first officer who later also was awarded monetarily by the SEC.