151729P.pdf   06/06/2016  Vincent A. Beacom  v.  Oracle America, Inc.
   U.S. Court of Appeals Case No:  15-1729
   U.S. District Court for the District of Minnesota - Minneapolis   
   [PUBLISHED] [Benton, Author, with Smith and Bye, Circuit Judges] 
   Civil case - Sarbanes-Oxley and Dodd-Frank. In action by former employee 
   alleging Oracle had terminated him in retaliation for challenging Oracle's 
   revenue projections, the court adopts the test set out in Sylvester v. 
   Parexel Int'l LLC, ARB No. 07-123, 2011 WL 2165854 (ARB May 25, 2011) 
   which holds that to satisfy the objective component of the "reasonable 
   belief" standard, an employee must simply prove that a reasonable person 
   in the same factual circumstances with the same training and experience 
   would believe that the employer violated securities laws; under the 
   standard, the missed projections were minor discrepancies and plaintiff's 
   belief that Oracle was defrauding its investors was objectively 
   unreasonable; the district court did not err, therefore, in granting 
   Oracle summary judgment on plaintiff's Sarbanes-Oxley claim; since 
   plaintiff did not make a disclosure protected by Sarbanes-Oxley, his 
   termination did not violate Dodd-Frank.