$1.1M Deal In Aegis WARN Class Action Gets OK

Law360, New York (March 20, 2009, 12:00 AM EDT) -- A bankruptcy judge has given preliminary approval to a $1.1 million settlement between subprime lender Aegis Mortgage Corp. and workers who alleged the company laid them off without giving sufficient notice as required under the Worker Adjustment and Retraining Notification Act.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware signed off on the deal in an order signed Wednesday. He also certified a class of about 1,150 workers of WARN Act claimants for settlement purposes only.

The deal calls for...
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