Deal Gets OK In Delta Financial FLSA Class Actions

Law360, New York (April 13, 2010, 1:06 PM EDT) -- A bankruptcy judge has signed off on a settlement to end a class action overtime feud between more than 400 former loan officers and bankrupt Delta Financial Corp.

Judge Christopher S. Sontchi approved the entire deal and authorized the liquidating trustee to begin the $395,000 payout to class members, according to his order filed Friday in the U.S. Bankruptcy Court for the District of Delaware.

A third of the settlement amount will go to attorneys — a provision Judge Sontchi found fair — in what was...
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