Supreme Transparency
  • Term
  • 2023-2024

Murray v. UBS Securities, LLC

Under federal law, whistleblowers who report misconduct at publicly traded companies are protected from retaliation by their employers. In this case, plaintiff Trevor Murray was pressured to misrepresent research findings in client-facing reports and was fired the month after he reported the misconduct to his supervisor. Murray’s employer UBS Securities claimed that the timing was purely coincidental and due to financial difficulties, not retaliation. The case had major implications for determining who bears the burden of proof to show retaliatory intent in whistleblower cases. On February 8, 2024, the Supreme Court ruled that whistleblowers do not bear the burden of proving retaliatory intent.

Powerbroker-Affiliated Organizations


U.S. Chamber of CommerceRead the amicus brief


Securities Industry and Financial Markets AssociationRead the amicus brief