Global banking conglomerate UBS recently reached a $1.3 million settlement with a group of client adviser associates. The client adviser associates claimed the company unlawfully withheld overtime pay in violation of the federal Fair Labor Standards Act (FLSA) and New York labor law.
According to the class action lawsuit, the plaintiffs claimed they were erroneously misclassified as non-exempt employees and that they were entitled to overtime compensation. After extensive pre-litigation discovery, negotiations, and mediation, the parties quickly arrived at a settlement of the FLSA claims that includes all similarly situated employees who worked for the bank as client advisor associates between November 5, 2010 and April 2, 2015. The settlement of the New York state labor law claims covers all similarly situated employees who worked for the bank in New York from November 5, 2007 to April 2, 2015.
Allegations of wage and overtime theft are on the rise. If you suspect that your employer has misclassified your employment status, improperly withheld compensation, or engaged in other violations of state and federal wage and hour laws, you may be entitled to money damages. Please contact the attorneys in Sommers Schwartz’s Employment Litigation Group today – we’re here to help.