Judge approves $650,000 settlement for 100 workers after alleged $1.3M retirement savings loss

In an important ruling, a federal judge in North Carolina approved a settlement totaling up to $650,000 for employees of Republic Mortgage. This decision follows allegations of mishandled retirement savings during the firm’s closure, affecting around 100 workers who incurred notable financial losses. The settlement not only provides compensation but also includes the costs of legal fees and administrative tasks, concluding the 2024 case without the company acknowledging any misdeeds.