Solyndra LLC, the failed solar-panel maker, won preliminary court approval of a $3.5 million settlement with former workers, Bloomberg News reported yesterday. Bankruptcy Judge Mary Walrath granted tentative approval of the settlement and set a hearing for Oct. 17 to consider making the ruling final, according to court documents filed yesterday. Former employees sued Solyndra, which received a $535 million U.S. Energy Department loan guarantee before collapsing, arguing that they did not get adequate notice when the company fired almost its entire workforce last year. The settlement resolves allegations that Solyndra violated the Worker Adjustment and Retraining Notification Act, which requires 60 days’ notice of firings, and sets up a $3.5 million fund that will be distributed to the workers two weeks after the accord takes effect.
