General World News

Defunct FGMC, former employees seek $1.75M settlement on WARN Act suit 

The now defunct First Guaranty Mortgage Corporation (FGMC) and former employees – who sued the mortgage lender in a class-action suit after an abrupt layoff – are seeking a Delaware bankruptcy judge to settle a Worker Adjustment Retraining Notification (WARN) Act lawsuit for $1.75 million.

In June 2022, laid off employees filed two separate district court actions alleging WARN Act violations related to their abrupt employment terminations. The WARN actions were merged into a single case a day after FGMC laid off about 80% of its workforce in a details ⇒

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