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New Century Can't Release Insurer: Employees

Law360 (November 14, 2007, 12:00 AM EST) -- Plaintiffs in a two-year-old employment lawsuit against bankrupt subprime lender New Century Financial Corp. objected on Tuesday to New Century's motion to release its captive insurance company from its obligations, saying that this would hurt the plaintiffs' chances of a fair award in the case.

The class action suit, brought by an employee named Daniel Rubio in a California state court in 2005 under the U.S. Fair Labor Standards Act, accused New Century of failing to pay its workers full overtime and provide meal and rest...
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