A California-based health insurance provider has agreed to pay a $340,000 penalty for illegally coercing its employees into remaining mute about company practices that did not comply with federal code. The U.S. Securities and Exchange Commission (SEC) said last week that Health Net Inc. violated federal securities laws by stripping employees of their rights to act as whistleblowers and seek whistleblower awards as a condition to receiving severance payments and other post-employment benefits. Health Net added the unlawful provision in August 2011 after the SEC adopted a rule prohibiting employers from taking any action to impede someone from communicating with ... Read More
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