A federal appeals court panel dealt the former general counsel for Bio-Rad Laboratories (NYSE:BIO) a blow, slicing his $11 million jury award by $6 million and sending his whistleblower retaliation lawsuit back to U.S. District Court for a possible new trial.
The three-judge panel sitting in San Francisco ruled that the U.S. District Court judge in the January 2017 trial had improperly instructed the jury that parts of the Federal Corrupt Practices Act (FCPA) are rules or regulations of the Securities & Exchange Commission (SEC).