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Ideal Mortgage/Lend America – $300,500 Settlement

UPDATE 1/29/2020

On January 29, 2013, we 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.

On November 20, 2019, settlement checks, net of class counsel’s fees, expenses, a service payment, and applicable withholding, were mailed to the members of the class. On January 21, 2020, the settlement administrator mailed W2s to class members.

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