MortgageIT Settles FLSA Suit With Loan Officers

Law360, New York (August 20, 2009, 3:04 PM EDT) -- A federal judge has approved a settlement between MortgageIT Inc. and three of its former employees in a collective action accusing the Deutsche Bank subsidiary of failing to pay its loan officers proper overtime wages for their work.

Judge William H. Walls signed the stipulated order approving the settlement on Monday in the U.S. District Court for the District of New Jersey.

“The court determines that the terms of the settlement of this litigation are fair and reasonable, including the amounts contemplated to be paid to...
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