A recent article published by the Miami Herald online, explains that the once top lawyer for the banks as it relates to foreclosures has been sued in a class action by it's formers employees for violating labor laws.
This lawsuit was filed as a class action making the potential financial exposure to Mr. Stern very high. However, what's a class action lawsuit one might ask?
A class action lawsuit is a lawsuit in which a group of people can sue together in a single action because there respective claims are very similar to each other. Mr. Sterns lawyers have asserted that the labor laws were not violated as the lay offs were unexpected. Mr. Sterns law firm handled many foreclosures for the banks and had over 100,000 cases that it was handling. After allegations of improper paper work started circulating the banks pulled there cases and the firm started it's lay offs.
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