On April 18, 55% of Citibank’s voting shareholders refused to approve the compensation plan for Citibank’s top five executives, including its Chief Executive Officer. To read more about this recent excercise the "say-on-pay" power under the Dodd-Frank Consumer Fraud and Protection Act (“Dodd-Frank”), click here for an article written by my colleagues Andrew J. Bernstein and Jessica W. Catlow.
Retaliation claims are here to stay. According to charge statistics recently released by the EEOC, retaliation claims rose to an all-time high of 37,344 in fiscal year 2011, and were included in 37.4% of all charges filed with the agency. Recent developments lead us to conclude that this trend will continue, in 2012 and beyond.
In December 2011, the U.S. Department of Labor (“DOL”), Wage and Hour Division (“WHD”), released guidance pertaining to prohibitions against retaliation under the Fair Labor Standards Act (“FLSA”) and the Family and Medical Leave Act (“FMLA”).