Is my company required to disclose bankruptcy information to its employees?

[Tigue99]

What is the name of your state (only U.S. law)?
Employees are in Pennsylvania, Company in question filed in Arizona.

I was recently informed by someone from another department/company that our company filed for Chapter 11 in September 2008. I was hired onto my contract with them in November of 2008. My question is: Was my company required to inform its current and "new" employees of its Chapter 11 status? Had I known that my employer was in jepordy I may not have agreed to the contract to begin with and we have still not been told by our company that they are currently in a Chapter 11. I did some research on the web however and found that we are.

 

[cosine]

What is the name of your state (only U.S. law)?
Employees are in Pennsylvania, Company in question filed in Arizona.

I was recently informed by someone from another department/company that our company filed for Chapter 11 in September 2008. I was hired onto my contract with them in November of 2008. My question is: Was my company required to inform its current and "new" employees of its Chapter 11 status? Had I known that my employer was in jepordy I may not have agreed to the contract to begin with and we have still not been told by our company that they are currently in a Chapter 11. I did some research on the web however and found that we are.

What do they say when you ask them directly if they are currently under bankruptcy protection status?

 

[Tigue99]

They haven't told the employees anything as of yet. However, from my understanding they attempted to keep the information withheld from the company who our contract is with until our "contracting boss" pushed the issue and they told him. As the company is in Arizona, and the boss for my company is out of the office at present, I haven't been able to ask them directly. I plan to do so as soon as he returns though.