Workers Seek OK On FLSA Deal With Delta Financial

Law360, New York (March 23, 2010, 4:00 PM EDT) -- More than 400 former loan officers have asked a judge to grant final approval of their settlement of class action overtime claims with bankrupt Delta Financial Corp.

The employees agreed to take $395,000 — a third of which will go to attorneys — on what once was a case worth potentially $7 million in damages, according to the joint motion filed Monday in the U.S. Bankruptcy Court for the District of Delaware.

Approval of the deal would end litigation that has stretched on for six years...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.