Borders Reaches Accord With Ex-Worker Class Over Layoffs

Law360, New York (February 16, 2012, 4:07 PM EST) -- A New York bankruptcy judge on Thursday gave his blessing to a settlement with a class of nearly 200 former Borders Group Inc. employees who claimed the defunct bookseller axed them them without providing the legally required notice.

U.S. Bankruptcy Judge Martin Glenn's seal of approval will end the federal Worker Adjustment and Retraining Notification Act litigation spurred by the company's decision to liquidate and close its stores, and will let 198 ex-employees divvy up the $240,000 payout.

“I think it's a fair and reasonable settlement,”...
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