A computer programmer, Miron Berenshteyn, who worked as a senior java
developer at Lehman
Brothers‘ data centre in Jersey City, filed a suit against the bank in a New
York bankruptcy court this week on behalf of 100 former employees who lost their
jobs during layoffs on September 9.
The suit seeks 60 days pay and benefits as well as severance pay of one
week’s wages for every year worked. If the class action is certified, it could
include about 1,000 ex-employees and be worth more than $5m, according to
Lawyers from Outten
& Golden, representing Berenshteyn, claim Lehman breached the Worker
Adjustment and Retraining Act, which requires 60 days advance notice in writing
of a layoff, when Lehman stopped paying the staff before the 60 days were up.
Lehman filed for bankruptcy on September 15.
The UK bank has reportedly been handing out pink slips to fixed income and IT
support staff at Lehman’s North American brokerage operations, beginning early
last month. Up to 3,000 staff are expected lose their jobs by the end of the
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements
Charles Tilley's departure from CIMA leaves the accounting world quieter, but his institute with an exciting foundation