Advisers Sue Morgan Stanley For OT Pay

Law360, New York (June 15, 2011, 1:07 PM EDT) -- A former financial adviser at Morgan Stanley Smith Barney LLC hit the financial services giant with a putative class action in New York on Monday, saying the company shirked its duty to pay employees overtime wages.

Denise Otten accused Morgan Stanley of violating the Fair Labor Standards Act and New Jersey wage-and-hour laws by failing to provide its financial advisers across the country with overtime pay for working more than 40 hours a week. She also claims the company violated New Jersey laws by refusing to...
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