Taylor Bean Gets Go-Ahead For $15M WARN Action Deal

Law360, Los Angeles (November 4, 2011, 5:50 PM EDT) -- A Florida bankruptcy judge on Friday signed off on a $15 million settlement between Taylor Bean & Whitaker Mortgage Corp. and a class of nearly 3,000 former employees who allege they weren't given proper notice before massive layoffs in 2009 when the troubled mortgage lender shut down.

Taylor Bean was once the third largest direct-endorsement lender of Federal Housing Administration-insured loans, but was forced to let go of the bulk of its employees Aug. 5, 2009, before filling for bankruptcy protection later that month, listing more...
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