$2.5M Deal In JPMorgan OT Suit Gets Nod From Judge

Law360, New York (January 5, 2010, 5:30 PM EST) -- The federal judge overseeing a suit accusing JPMorgan Chase & Co. of failing to pay current and former loan officers overtime and misclassifying them under federal and state wage-and-hour laws has given tentative approval to a $2.5 million settlement pact.

Judge John G. Koeltl of the U.S. District Court for the Southern District of New York signed off on an order Monday granting named plaintiff George Raikos' Aug. 7 motion for preliminary approval of the deal.

A JPMorgan representative could not immediately be reached to discuss...
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