Finance Company's Former Employees Sue For $7.9M In Pay

Law360 (January 13, 2021, 8:16 PM EST) -- Former employees claim that a financial services and products company owes them $7.9 million in bonus, severance and stock payments after the company laid them off when it decided to shutter its real estate securitization business, according to their lawsuits in New York state court.

In separate complaints filed Tuesday, each of the three former employees accused The Bancorp Inc., based in Delaware, of breach of contract, breach of implied contract and unjust enrichment over its alleged failure to make the payments.

"This dispute emanates from Bancorp's bad faith efforts to avoid its obligation to pay [the former employees their] earned,...

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