Spansion Reaches $8M Deal In WARN Suit

Law360, New York (May 11, 2010, 5:52 PM EDT) -- As it emerges from bankruptcy, Spansion Inc. has reached a settlement of up to $8.57 million in a suit accusing the flash memory maker of violating the Worker Adjustment and Retraining Notification Act by laying off workers without giving proper notice.

Thee settlement consists of about $6.8 million in allowed priority claims and $1.76 million in allowed unsecured claims, according to the motion to approve the deal, filed Monday in the U.S. Bankruptcy Court for the District of Delaware. A judge gave preliminary approval to the...
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