UPDATE 5/8/19

On February 12, 2009, Raisner Roupinian LLP filed suit against Fortunoff Holdings, LLC, Fortunoff Card Company, LLC, NRDC Equity Partners, LLC and NRDC Fund V, LLC, 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 Fortunoff ordered mass layoffs on or about February 12, 2009 without providing its employees with advance written notice. The Case is pending in the United States Bankruptcy Court for the Southern District of New York.

On October 1, 2009, the Court converted the case to chapter 7 and a Trustee was appointed. Prior to conversion, plaintiffs' counsel moved to certify the class. The WARN Plaintiffs reached a class settlement with the Trustee for the estates of Fortunoff Holdings, LLC and Fortunoff Card Company, LLC. On December 16, 2011, the Court held a Final Fairness Hearing and approved the final settlement. Disbursement of the settlement funds must await the final liquidation and conclusion of the chapter 7 estate.

Since 2011, we have been waiting for the chapter 7 trustee to liquidate the assets of the Fortunoff estate and resolve creditor claims. Once the work of the trustee is complete and the Court approves the trustee’s final report, funds from the estate may be distributed to its creditors, including the WARN class.

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.

If you have any questions regarding this matter or to update your address and telephone number, please contact us:
Raisner Roupinian LLP
500 5th Avenue, Suite 1600
New York, NY 10110
Toll Free 1-866-544-9945
Telephone: 1-212-221-1747