Former Employee Seeking Lost Wages from Termination

Former Employee Seeking Lost Wages from TerminationAn article in the Chicago Tribune details the financial tribulations of the futures brokerage firm Peregrine Financial Corporation during the week of July 9th, 2012.  On Monday the founder of Peregrine, Russell Wasendorf Sr., allegedly attempted suicide near his firm’s Cedar Rapids headquarters.  It is believed that this was due to the investigation of fraud and allegations that over $200 million of investor’s money has gone missing.  The day after Wasendorf Sr. purportedly commited suicide, his company filed for Chapter 7 bankruptcy and laid off multiple people from their Chicago office.

One of Peregrine’s former employees, Ronald Kotulak, has since filed a lawsuit claiming that the former employees were not properly notified of their termination.  He is seeking a class action lawsuit to represent all the former employees who were let go that day.  The lawsuit uses the Federal Worker Adjustment and Retraining Notification Act.  The Act advocates that an employer must give at least 60 days of notice of termination under circumstances, such as when 50 or more workers are let go, or a third of the workforce at a given facility.

Kotulak is look to recover 60 days of wages and benefits for his former coworkers and himself.  There are many different facets of employment law.  If you are facing a lawsuit from a former employee, you will need help to navigate through this difficult time to protect your business.  Please contact a dedicated and skilled Oak Brook, IL business attorney.  It may be the difference between a small dispute and a potentially dangerous and lengthy legal battle.