Socorro Electric Coop Settles Two Lawsuits
Socorro Electric Cooperative settled two wage and hours claims with former managers last month, paying out $30,000 in compensation for failing to settle within the time frame established by state law after the two employees were fired last August. Polo Pineda Jr., who served as the coop’s general manager, and Kathy Torres, an accounting manager with the company for 22 years, were fired last year after an investigation into financial irregularities. An audit revealed that the managers had taken out loans through the coop and failed to pay them back in a timely manner. The managers were fired on Aug. 25, 2010. New Mexico state law requires that all unpaid wages and compensation be paid within five days of termination, and the managers alleged they didn’t receive their payments on time. Read more about the terms of the settlement agreements here.
