Former Holtec CFO wins whistleblower lawsuit connected to nuclear power
Amanda OglesbyAsbury Park Press
Oct. 27, 2026, 5:02 a.m. ET
A former top financial officer for Holtec International, which owns the defunct Oyster Creek nuclear power plant in Lacey, won a $2.1 million jury verdict in connection to a whistleblower lawsuit involving the development of small modular reactors, according to the website Engineering News-Record.
Holtec, which is based in Camden, has expressed interest in building four of the company's first small modular reactors at the former power plant location in Lacey. The plans remain in early phases and have not been approved by local, state and federal authorities.
In 2023, former Holtec CFO Kevin O'Rourke sued Holtec, alleging the company fired him after he refused to present what he believed were misleading financial reports to Hyundai Engineering and Construction, a partner in the development of small modular reactors.
"The jury found that Holtec fired Kevin in violation of New Jersey's Whistleblower Law, the Conscientious Employee Protection Act," said Drake P. Bearden Jr. of the law firm Javerbaum Wurgaft Hicks Kahn Wikstrom & Sinins, which represents O'Rourke. "We are thrilled that after years of litigation the jury found Holtec violated his rights when they fired him for whistleblowing."
Holtec plans to appeal the verdict, according to Patrick O'Brien, a spokesperson for Holtec.
"The jury concluded that Mr. O’Rourke’s employment was terminated because he expressed a belief that a draft of an internal confidential document, that was never delivered to any potential investor, violated the law," O'Brien said in a statement. "We strongly disagree and will be appealing that issue.
"We are very pleased that the jury found that the Plaintiff breached his confidentiality agreement with Holtec by publicly disclosing confidential Holtec business information," he said.
In 2022, Holtec and Hyundai partnered to design small modular reactors, a new kind of mass-produced nuclear reactor that can be deployed in a variety of environments and at minimal cost.
These small reactors create about a third of the power of traditional nuclear reactors and their factory-assembled parts help to reduce design and construction costs, according to the International Atomic Energy Agency (IAEA).
These small reactors can also be constructed at locations where a traditional reactor would not be feasible, such as isolated factories or rural areas, according to the agency. In addition, small modular reactors are designed to operate more safely than traditional reactors as well as passively, according to the IAEA. In the event of an emergency, the small reactors are designed to shut down without external power or human intervention, according to the agency.
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