Whistleblower sues Atlas Air for unfair dismissal
18 / 10 / 2010
A FORMER Atlas Air executive is suing the airfreight company for allegedly being fired after he complained about illegal practices.
Todd Andaya, former project managing director, said the company dismissed him in November last year when he said the company’s financial irregularities “violate federal and state law and constitutes fraud upon Atlas shareholders”.
Andaya alleges that in October 2009, his boss, Richard Barnes, vice-president of information systems at Atlas told management ahead of a public announcement that third-quarter earnings would be stronger than expected and managers could expect bonuses.
“Mr Andaya told Mr Barnes that his disclosure was inappropriate and violated federal securities regulations because managers could trade on this ‘inside information’ prior to the earnings call,” the lawsuit said.