First Residential Wins Bid To Decertify FLSA Action

Law360, New York (July 17, 2009, 12:42 PM EDT) -- A federal judge has decertified a collective overtime action brought by former loan advisers of First Residential Mortgage Network Inc., finding that the lender did not have a companywide policy requiring the bankers to work more than 40 hours a week without compensation, as they claim.

Judge John Heyburn II of the U.S. District Court for the Western District of Kentucky ruled Wednesday that the seven named plaintiffs and the 78 additional bankers who sought to opt-in to the action under the Fair Labor Standards Act...
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