Defunct Lender's Loan Officers Win $9M FLSA Award

Law360, New York (September 23, 2011, 5:42 PM EDT) -- More than 160 New York-based loan officers claiming Premium Capital Funding LLC's mortgage unit withheld overtime and minimum wage pay won a $9 million judgment Monday — one of the year's biggest jury awards in a Fair Labor Standards Act class action.

U.S. Judge Leonard Wexler approved the plaintiffs' request for double damages following a Sept. 12 jury verdict that found against TopDot Mortgage — Premium Capital's now-defunct home mortgage arm — and its executives.

The judgment came after nearly three years of litigation, during which...
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