Morgan Stanley Advisers Seek Class Cert. In OT Suit

Law360, New York (February 16, 2010, 3:55 PM EST) -- California financial advisers at Morgan Stanley are seeking class certification for a lawsuit alleging the financial services provider failed to reimburse them for ordinary business expenses and misclassified them as exempt from overtime pay.

Lead plaintiffs Jeremy Drake and Adam Scott filed a motion Monday in the U.S. District Court for the Central District of California asking the court to certify three classes or subclasses to address the reimbursement and misclassification allegations, as well as claims that the noncompete provisions of the financial advisers' contracts are...
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