Wells Fargo To Pay $7M To Settle Techies' OT Suit

Law360, New York (February 28, 2011, 3:42 PM EST) -- Wells Fargo & Co. technical support workers Friday asked a California court to approve a $6.72 million settlement in a Fair Labor Standards Act collective action alleging the bank misclassified the employees as exempt from overtime wages.

The plaintiffs told the U.S. District Court for the Northern District of California that the settlement was fair, reasonable and adequate; provided substantial monetary relief to those who opt in; and eliminated the risks inherent in further litigation.

The workers' counsel, Lieff Cabraser Heimann & Bernstein LLP and Haber...
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