Dominion Lending Centres Clearlease Reports Yukon-Nevada (TSX:YNG) grees to $3.8-million settlement in U.S. class action suit
VANCOUVER, BC (May 26, 2011) Dominion Lending Centres Clearlease Reports Yukon-Nevada Gold Corp. (TSX:YNG) said Thursday that it has reached a $3.6-million settlement in a class action suit brought by former employees against the company and its wholly-owned subsidiary, Queenstake Resources USA.
The settlement was reached with more than 390 employees laid off from its Jerritt Canyon mining facility in Nevada in 2008, but is still subject to court approval.
Employees accused the company of violating the federal Worker Adjustment and Retraining Notification Act, which requires employers to give 60 days notice of mass layoffs.
The workers also said the company had violated the Employment Retirement Income Security Act and state labour laws.
When the mine closed, Yukon-Nevada said it paid as much as it could from available cash at the time.
Among other things, the settlement sets aside funds for the remaining 50 per cent of the severance payments under the WARN Act — regular wages were paid at the time of severance — as well as medical costs and certain 401-K pension contributions.
The funds, previously placed on deposit by the company, are to be distributed by a third party claims administrator pursuant to the settlement procedures and the court processes.
Vancouver-based Yukon-Nevada is a North American miner which holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia and in Nevada.
Stock in the company was down a penny at 55 cents Thursday morning on the Toronto Stock Exchange. The company’s share soared 13.5 cents or almost 32 per cent Wednesday after reporting a turnaround in its first-quarter results and posting a $28.9-million profit.
Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
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Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BC (May 26, 2011) Dominion Lending Centres Clearlease Reports Yukon-Nevada Gold Corp. (TSX:YNG) said Thursday that it has reached a $3.6-million settlement in a class action suit brought by former employees against the company and its wholly-owned subsidiary, Queenstake Resources USA.
The settlement was reached with more than 390 employees laid off from its Jerritt Canyon mining facility in Nevada in 2008, but is still subject to court approval.
Employees accused the company of violating the federal Worker Adjustment and Retraining Notification Act, which requires employers to give 60 days notice of mass layoffs.
The workers also said the company had violated the Employment Retirement Income Security Act and state labour laws.
When the mine closed, Yukon-Nevada said it paid as much as it could from available cash at the time.
Among other things, the settlement sets aside funds for the remaining 50 per cent of the severance payments under the WARN Act — regular wages were paid at the time of severance — as well as medical costs and certain 401-K pension contributions.
The funds, previously placed on deposit by the company, are to be distributed by a third party claims administrator pursuant to the settlement procedures and the court processes.
Vancouver-based Yukon-Nevada is a North American miner which holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia and in Nevada.
Stock in the company was down a penny at 55 cents Thursday morning on the Toronto Stock Exchange. The company’s share soared 13.5 cents or almost 32 per cent Wednesday after reporting a turnaround in its first-quarter results and posting a $28.9-million profit.
Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports Yukon-Nevada (TSX:YNG) grees to $3.8-million settlement in U.S. class action suit
VANCOUVER, BC (May 26, 2011) Dominion Lending Centres Clearlease Reports Yukon-Nevada Gold Corp. (TSX:YNG) said Thursday that it has reached a $3.6-million settlement in a class action suit brought by former employees against the company and its wholly-owned subsidiary, Queenstake Resources USA.
The settlement was reached with more than 390 employees laid off from its Jerritt Canyon mining facility in Nevada in 2008, but is still subject to court approval.
Employees accused the company of violating the federal Worker Adjustment and Retraining Notification Act, which requires employers to give 60 days notice of mass layoffs.
The workers also said the company had violated the Employment Retirement Income Security Act and state labour laws.
When the mine closed, Yukon-Nevada said it paid as much as it could from available cash at the time.
Among other things, the settlement sets aside funds for the remaining 50 per cent of the severance payments under the WARN Act — regular wages were paid at the time of severance — as well as medical costs and certain 401-K pension contributions.
The funds, previously placed on deposit by the company, are to be distributed by a third party claims administrator pursuant to the settlement procedures and the court processes.
Vancouver-based Yukon-Nevada is a North American miner which holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia and in Nevada.
Stock in the company was down a penny at 55 cents Thursday morning on the Toronto Stock Exchange. The company’s share soared 13.5 cents or almost 32 per cent Wednesday after reporting a turnaround in its first-quarter results and posting a $28.9-million profit.
Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk