Published on May 12, 2009 | by LawNews
Prof. Susan Joffe Comments in Reuters Article ‘BofA presses fired staff to give up right to sue‘
Professor Susan H. Joffe was quoted in the following Reuters article.
BofA presses fired staff to give up right to sue
By Elinor Comlay
May 12, 2009
Some courts may question whether the employees were coerced into signing the agreement, said Susan Joffe, an assistant professor at Hofstra University School of Law in New York, who previously practiced employment law. Courts tend to respect severance agreements but the employee must sign voluntarily, Joffe explained.
Contesting Bank of America’s pressure to sign agreements could take months of legal wrangling, by which point the bank will have essentially enforced a gardening leave, lawyers said.
Giving up deferred compensation or the right to litigate would amount to a big hit for many Bank of America employees. Much of their 2007 bonuses were paid in deferred compensation.