Ex-MF Global Employees Sue Over Mass Firings

Law360, New York (November 14, 2011, 4:49 PM EST) -- Three former MF Global Holdings Ltd. employees on Monday launched proposed class actions against the bankrupt broker-dealer for allegedly failing to give them proper warning before firing them and their 1,063 colleagues Friday.

Pierre-Yvan Desparois, a former vice president in credit risk management based in New York, and Todd Thielmann, an ex-broker based in Chicago, accused MF Global of violating the Worker Adjustment and Retraining Notification Act for neglecting to give employees 60 days notice before their termination.

Natalia Sivova, who worked for MF Global in...
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