Threat Of Worker Misclassification In Financial Services

Law360, New York (November 12, 2009, 1:19 PM EST) -- The wave of collective action lawsuits and U.S. Department of Labor audits brought under the Fair Labor Standards Act continues to crash down on employers. Indeed, a recent study indicates that the number of FLSA collective actions increased again in 2008, and this trend shows no sign of subsiding.

Moreover, the DOL’s Wage and Hour Division recently announced that it will hire an additional 200 investigators to step up enforcement of the FLSA.

Employers in the financial services industry have been particularly hard hit by claims...
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