WELCH v. CHAO

No. 07-1684.

536 F.3d 269 (2008)

David E. WELCH, CPA, Petitioner, v. Elaine L. CHAO, Secretary of Labor, United States Department of Labor, Respondent, Cardinal Bankshares Corporation, Intervenor-Respondent. Government Accountability Project; National Whistleblower Center; Taxpayers Against Fraud, Amici Supporting Petitioner, American Association of Bank Directors; Virginia Association of Community Banks; Virginia Bankers Association, Amici Supporting Respondent, Securities and Exchange Commission, Amicus Curiae.

United States Court of Appeals, Fourth Circuit.

Decided: August 5, 2008.


Attorney(s) appearing for the Case

ARGUED: David B. Shine, Donald Franklin Mason, Jr., Shine & Mason, Kingsport, Tennessee, for Petitioner. Barbara Eby Racine, United States Department of Labor, Washington, D.C., for Respondent. Joseph Michael Rainsbury, Leclair Ryan, PC, Roanoke, Virginia, for Intervenor. ON BRIEF: Gregory F. Jacob, Solicitor of Labor, Steven J. Mandel, Associate Solicitor, Ellen R. Edmond, Counsel for Whistleblower Programs, United States Department of Labor, Office of the Solicitor, Washington, D.C., for Respondent. Douglas W. Densmore, Leclair Ryan, PC, Roanoke, Virginia; Betty Southard Murphy, Marc A. Antonetti, Baker & Hostetler, LLP, Washington, D.C., for Intervenor. Paul Taylor, Taylor & Associates, Burnsville, Minnesota; Jason M. Zuckerman, The Employment Law Group, PC, Washington, D.C., for The Government Accountability Project, The National Whistleblower Center, and Taxpayers Against Fraud, Amici Supporting Petitioner. Arthur P. Strickland, Roanoke, Virginia, for American Association of Bank Directors, Amicus Supporting Respondent. A. Peter Brodell, Williams Mullen, PC, Richmond, Virginia; Joseph E. Spruill, III, Virginia Bankers Association, Glen Allen, Virginia, for Virginia Bankers Association and Virginia Association of Community Banks, Amici Supporting Respondent. Brian G. Cartwright, General Counsel, Andrew N. Vollmer, Deputy General Counsel, Jacob H. Stillman, Solicitor, Mark Pennington, Assistant General Counsel, Securities and Exchange Commission, Washington, D.C., for Securities and Exchange Commission, Amicus Curiae.

Affirmed by published opinion. Judge MOTZ wrote the opinion, in which Senior Judge HAMILTON and Senior Judge HILTON joined.


OPINION

DIANA GRIBBON MOTZ, Circuit Judge:

David E. Welch appeals a final order of the Administrative Review Board (ARB) finding that his discharge by Cardinal Bankshares Corporation did not violate the whistleblower protection provision of the Sarbanes-Oxley Act. For the reasons set forth within, we affirm.

I.

Cardinal Bankshares Corporation is a bank holding company with its common stock listed on the NASDAQ Bulletin Board. As of December...

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