Lend America/Ideal Motrgage

Update 8/15/16

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.

We have been recently informed that there are sufficient funds in the bankruptcy estate to allow for a distribution to unsecured creditors, including the putative WARN class. If you have moved and not updated your address with us, please do so as soon as possible.

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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New York, NY 10017
Toll Free 1-877-4-OUTTEN
Telephone: 212-245-1000
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