Merrill Lynch to Pay National Overtime Settlement for brokers
Merrill Lynch has decided to consolidate the numerous overtime lawsuits that have been filed against the firm and settle nationally with its brokers. It is the third securities firm to do so...
A.G Edwards loses a round in overtime pay struggle
The case for overtime pay for brokers just got a little bit stronger. On July 31, U.S. District Judge John Houston “denied in its entirety” a motion for summary judgment by A.G. Edwards, which sought to throw out overtime-pay claims by two former brokers...
A.G Edwards overtime pay challenge fails
The overtime-pay case keeps getting stronger. On July 31, a California court announced that it would not dismiss an overtime-pay case brought against A.G. Edwards under a Depression-era law...
Overtime suits becoming all the rage
Registered Rep.’s May cover story on the battle between brokers and their firms about overtime pay seems to be having a ripple effect. Last week, The Boston Globe reported that Smith Barney was facing an overtime suit from a broker...
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