Legal Question in Employment Law in New York
I work at bank that just went bankrupt due to fraudulent activity by the former president. As a result we have been taken over and are all losing out on receiving severance. Can employees file a class action suit against the former board members of the bank for our loss, because they did not do their job to prevent the fraud from happening?
Asked on 3/15/10, 9:34 pm
1 Answer from Attorneys
Locksley Wade
Law Office of Locksley O. Wade
The short answer is no . . . unless you were participant in an employee stock purchase plan or an investor.
Answered on 3/22/10, 8:16 am
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