DST has reportedly laid off hundreds of workers following the completion of its recent sale. Layoffs are generally accompanied by a severance offer and a release of claims. Before signing a release an employee should know his or her rights. Most severances include a release that will be required to comply with the Older Worker Benefit Protection Act, this act mandates that the release be supported by consideration other than that which may already be owed to the employee. Moreover, these releases should direct the employee to meet with a lawyer and provide the right to rescind the acceptance after 7 days. Presently, DST is also being sued in connection with its management of the profit sharing plan and an investment in Valeant Pharmaceuticals. Many employees lost tens of thousands of dollars exposing DST to significant liability, it is likely that any release connected with a severance payment could waive any right to recover these losses as well. Before signing anything employees should know their rights. We are happy to answer any questions you may have. THE CHOICE OF A LAWYER IS AN IMPORTANT ONE AND SHOULD NOT BE BASED SOLELY ON AN ADVERTISEMENT. THIS DISCLOSURE IS REQUIRED BY RULE OF THE MISSOURI SUPREME COURT.
