Major investors in companies that commit violations of the federal Worker Adjustment and Retraining Notification (WARN) Act may not be immune to liability, according to a federal court sitting in the Southern District of New York.
Investors May Be Liable to WARN Act Plaintiffs
Major investors in companies that commit violations of the federal Worker Adjustment and Retraining Notification (WARN) Act may not be immune to liability, according to a federal court sitting in the Southern District of New York. <i>Vogt v. Greenmarine Holding, LLC</i>, No. 02 Civ. 2059 (S.D.N.Y. Jan. 1, 2004). Relying on Department of Labor (DOL) regulations, the court denied a motion to dismiss the claims of a class of plaintiffs who were terminated by a bankrupt company against the investors in the bankrupt entity.
By
Mark A. Konkel
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