Merrill Lynch To Pay $7M To Settle Advisers’ OT Claims

Law 360 – May 8, 2014
Merrill Lynch & Co. Inc. has agreed to pay $6.9 million to settle a proposed wage-and-hour class action brought by current and former financial advisers who accused the company of misclassifying them as exempt from overtime, according to documents filed Wednesday in New York federal court.

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