Case Details for "Yukon-Nevada Gold Corp. "

Yukon-Nevada Gold Corp resolves class action lawsuit

 Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) (the "Company") has reached an agreement to settle a class action suit brought by former employees against the Company and Queenstake  Resources USA, a wholly owned subsidiary of the Company.

Among other things, the $3.6M settlement agreement sets aside funds for the remaining 50% of the severance payments under the WARN Act (regular wages were paid at the time of severance), medical costs and certain 401-K contributions for approximately 394 employees laid off from Jerritt Canyon in 2008.

Posted on:2011-05-27
Company: Yukon-Nevada Gold Corp.
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Scope: Canada
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