Bankrupt Peregrine Faces WARN Suit

Law360, New York (July 11, 2012, 6:34 PM EDT) -- Peregrine Financial Group Inc. was hit Tuesday with a class action in Illinois federal court alleging the bankrupt brokerage failed to provide sufficient notification before initiating mass layoffs, as questions mount over the unexplained disappearance of $200 million in client funds.

Ronald Kotulak alleges he was among several workers who lost their jobs as Peregrine — which does business as PFGBest — faces suspicions of widespread fraud. His proposed class action against the embattled firm claims his former employer violated the Worker Adjustment and Retraining Notification...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Kotulak v. Peregrine Financial Group, Inc.


Case Number

1:12-cv-05447

Court

Illinois Northern

Nature of Suit

790(Labor: Other)

Judge

Honorable John Z. Lee

Date Filed

July 10, 2012

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.