On January 29, 2013, Outten & Golden filed a class claim against Ideal Mortgage Bankers LTD, d/b/a Lend America seeking to recover 60 days wages and benefits for former employees under the Worker Adjustment and Retraining Notification ("WARN") Act and the NY WARN Act. We contend Lend America ordered mass layoffs on or about December 1, 2009 without providing the employees with advance written notice. The case is pending in the United States Bankruptcy Court for the Eastern District of New York.
On March 7 2019, the Bankruptcy Court granted approval of a class settlement on behalf of the employees terminated within 30 days of December 1, 2009, as part of Lend America’s shutdown. The amount and timing of the distribution to the WARN class is dependent upon the outcome of the bankruptcy estate. We anticipate a distribution will occur, however, by December 2019.
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Generally, the WARN Act requires companies to provide their employees with 60 days written notice in advance of a mass layoff or plant closing. In the absence of such notice, employers may be liable to each affected employee for 60 days wages and benefits.
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OUTTEN & GOLDEN LLP
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(*Prior results do not guarantee a similar outcome.)