Countrywide To Pay $1.2M To Settle WARN, Severance Claims

Law360, New York (October 10, 2012, 1:49 PM EDT) -- Bank of America Corp.'s Countrywide Financial Corp. agreed to pay $1.2 million to end a proposed class action alleging that the company failed to provide notice of an impending layoff and unfairly reduced severance pay, according to a filing submitted Friday in California federal court.

The proposed payout would go to a class of approximately 280 former employees and would resolve claims that Countrywide and Bank of America violated the California and federal Worker Adjustment and Retraining Notification Acts, which require employers to give 60-day advanced...
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