Solyndra LLC, the bankrupt solar-panel maker that received a $535 million U.S. Energy Department loan guarantee, reached a $3.5 million settlement with former workers who claimed they received inadequate layoff notices, Bloomberg News reported yesterday. The settlement will resolve allegations that the company failed to give employees 60 days' notice under the Worker Adjustment and Retraining Notification Act when it fired most of its 1,100 workforce on Aug. 31, just before seeking bankruptcy court protection last year. Solyndra will set up a $3.5 million fund to be distributed to the workers two weeks after the settlement is effective, according to court papers. The settlement was jointly proposed by Solyndra and the ex-employees.
