Citigroup Strikes Deal In Worker Misclassification Suit

Law360, New York (September 24, 2010, 2:19 PM EDT) -- A federal judge has signed off on Citigroup Inc.’s settlement deal that resolves a 2007 putative class action accusing the financial services firm of improperly classifying specialists and other employees as exempt from overtime pay.

Judge John Gleeson of the U.S. District Court for the Eastern District of New York on Wednesday approved the confidential global agreement between the company and the six named plaintiffs.

He concluded that the deal’s terms to end the litigation were fair and reasonable, including the undisclosed amounts to be paid...
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