The firm originally planned to wrap up all of its business by the end of November — November 28th, to be precise. But this past week was the last week for some employees, as the dissolution committee informed ''non-essential'' employees that it was time to go.
Here's part of the email the committee sent out:
The Wall Street Journal reports that most of these employees are legal staffers such as paralegals and secretaries, but some attorneys are getting the boom lowered on them as well.
Heller is once again blaming their banks for this funding cutoff, but they still want people to work! ''You should continue your activities to serve clients, including, where applicable, to bill your time'' is how the aforementioned memo put it. It's doubtful that many will volunteer their time, however, since there is no guarantee of payment.
This action will likely lead to a class action lawsuit, simply because there needs to be a sixty-day notice for any mass layoffs. That span has not yet expired, so a class action on behalf of the newly laid-off personnel will likely happen. Expect such an event to mean a bankruptcy declaration.
Good luck to those affected by this!
