Suit Alleges Legg Mason Dodges Paying Overtime

Law360, New York (January 3, 2007, 12:00 AM EST) -- Headaches continue to mount for brokerage firms with yet another lawsuit alleging a company, this time Legg Mason, dodged labor laws by not compensating its brokers for overtime work.

The lawsuit filed Friday in the U.S. District Court for the Middle District of Pennsylvania seeks class action status to allow brokers, financial advisors and consultants who worked for Legg Mason, its parent company, or a subsidiary to win premium overtime pay.

Smith Barney, a division of Citigroup Global Capital Markets Inc., acquired Legg Mason’s broker-dealer unit...
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