Lawsuit alleges overtime violations by Merrill Lynch
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- January
- 13
Two Merrill Lynch employees have filed a lawsuit alleging that the financial services giant violated federal law by failing to pay overtime to back office employees.
The workers, Ivey Moore of Mount Vernon and Andrea Levine of Staten Island, are employed as derivatives settlement specialists at the New-York based company, according to the suit filed Monday in New York federal court.
“We allege that Merrill Lynch egregiously violated federal wage and overtime laws,” said attorney Brian Schaffer, who represents the workers. “Many salaried employees work over 40 hours in a week, but are unaware they are entitled to premium overtime pay.”
Schaffer said he will seek to have the lawsuit certified as a collective action to recover unpaid wages, damages and other costs for current and former Merrill Lynch derivatives settlement specialists who have been employed by the company within the past three years and want to participate in the case.
The defendants in the case are Merrill Lynch and Bank of America, which recently bought Merrill Lynch. Representatives of neither company could be reached for comment.
This entry was posted
on Tuesday, January 13th, 2009 at 5:14 pm by Jay Loomis.
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Category: Lawsuits
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