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| » Whistleblower argues for reinstatement in appeal |
| The first person to win protection under a federal law that shields whistleblowers deserves his job back at the small-town bank he said overstated its profits, his attorneys argued Wednesday.
David Welch, whose case was being heard by the 4th U.S. Circuit Court of Appeals, was fired as chief financial officer of Cardinal Bankshares Corp. in October 2002 after he reported what he said were misclassifications in its financial reports.
A federal administrative law judge ruled in 2004 that Welch should be reinstated under the Sarbanes-Oxley Act, a law enacted in response to corporate scandals at Enron Corp., WorldCom Inc. and other companies. But Cardinal has refused to give Welch his job back.
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