Boutique Bank Loses Bid For Quick Win In FLSA Suit

Law360, New York (July 6, 2010, 12:42 PM EDT) -- A federal judge has rejected boutique investment bank The Transportation Group Ltd.'s bid for summary judgment in a wage-and-hour suit, ruling that the bank failed to prove that its financial analysts were exempt from federal overtime compensation laws.

Judge Denise L. Cote of the U.S. District Court for the Southern District of New York denied The Transportation Group's motion for summary judgment Thursday in a proposed class action lawsuit brought by a former financial analyst who claims the company violated the Fair Labor Standards Act as...
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