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Case ID: 3274 | Employment | 01/14/2005
The parties have reached a tentative $80 million settlement in several class actions filed against the Global Crossing Employees' Retirement Savings Plan and certain of its officers and directors and former plan participants, who alleged that the defendants violated federal securities laws by committing various accounting improprieties. Persons eligible to participate in the settlement should contact attorneys for the class as soon as possible.
After a year of negotiations, the former officers of Global Crossing have finally settled a host of lawsuits for a total of $325 million. Included in the settlement is $80 million earmarked for 401(k) plan participants who lost their savings when the telecommunications giant filed for bankruptcy. Also included is $1 million more for workers who lost severance packages. Though plan participants won't recover all of their investments in the plan, they will at least receive a portion. The settlement will not be effective until the court grants it final approval. The court has not yet scheduled a hearing on the matter. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Employment Cases of Interest The decision to reduce the number of federal airport security screeners has been an issue of great controversy. A class action has been filed against James M. Loy, in his capacity as administrator of the U.S. Transportation Security Administration, on behalf of older employees and union activists who allege that the administration is ignoring veterans' preference in its reduction-in-force decisions in violation of federal law and the U.S. Constitution.
A group of 15 United Airlines employees filed a federal lawsuit against the Air Line Pilots Association union for discriminating against nonunion pilots. According to the complaint, the ALPA union hierarchy purposefully and illegally failed to inform nonunion employees of their right to sell future United stock shares issued during the airline's bankruptcy reorganization plan. A collective action with apparent national reach has been filed in Alabama against Sanders Oil Company. The action is brought on behalf of all persons employed by Sanders since February 1994, as assistant managers. The action is brought under the federal Fair Labor Standards Act and seeks back pay, statutory and liquidated damages as well as injunctive and declaratory relief. As a collective action, all potential claimants are required to "opt-in" to the action in order to be considered a member of the class. The managers have requested that the court issue notice to all potential claimants. A statewide collective action has been filed in Florida against 219 South Atlantic Boulevard, Inc. The action is brought on behalf of all current and former employees, who since February 2001, were not paid proper statutory overtime for all hours worked beyond 40 per week. The action is brought under the federal Fair Labor Standards Act and seeks statutory and liquidated damages as well as declaratory and injunctive relief. As a collective action, all potential claimants are required to "opt-in" to the action in order to be considered part of the class. The employees have requested that the court issue notice to all potential class members. A class action lawsuit has been filed in the Southern District Court of New York against Bellsouth Long Distance, Inc. The case involves violations of the Fair Labor Standards Act which establishes minimum wage, overtime pay, recordkeeping, and child labor standards affecting full-time and part-time workers in the private sector and in Federal, State, and local governments. No additional information about the substance of the allegations is available at this time. Classactionamerica.com will monitor this case and provide additional details as soon as they become available. A statewide class action has been filed in Oregon against Symphony Healthcare, Inc., the former owner and operator of Eastmoreland Hospital. The action is brought on behalf of all former employees of Eastmoreland who were terminated on January 16, 2004, when Symphony suddenly closed Eastmoreland without any prior notice to employees. The action is brought under the federal Worker Adjustment and Retraining Act (WARN) and seeks back pay and benefits for all former employees. |
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