Bloomberg To Pay $5M To Settle Contracts Reps' OT Suit

Law360, New York (September 23, 2013, 4:31 PM ET) -- Bloomberg LP has agreed to pay $5.4 million to settle a class action filed by contracts representatives who claim the company denied them overtime pay in violation of the Fair Labor Standards Act, according to a motion filed Friday in New York federal court.

The lead plaintiff in the action filed an unopposed motion asking the Southern District of New York to preliminarily approve the settlement, which would end the case alleging the global financial data services firm failed to pay its contracts representatives overtime in...
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