BofA Tax Preparers Seek Final OK On Deal In OT Suit

By Julie Zeveloff (January 4, 2010, 12:53 PM EST) -- The lead plaintiff in a class and collective action accusing Bank of America NA's private wealth management unit of failing to pay overtime wages to certain tax preparation officers has asked a federal judge to approve a final settlement in the case.

Lead plaintiff Eugene Lumley lodged the motion Dec. 31 in the U.S. District Court for the Southern District of New York, asking for final approval of a $661,392 settlement, which includes $150,000 in legal fees and $10,000 as an incentive for Lumley.

The suit, filed in April 2008, accused Bank of America and U.S. Trust Co. NA of violating...

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