Broker Thwarts $45M UBS Overtime Settlement

Law360, New York (March 5, 2007, 12:00 AM EST) -- A former UBS Financial Services Inc. broker who was denied intervener status in a wage-and-hour class action against the financial giant has appealed, causing a delay in the disbursement of a $45 million settlement to thousands of brokers.

Anthony D’Aria claims that the settlement is “grossly undervalued” compared to the brokers’ claimed losses of between $240 million and $880 million for unpaid overtime alone.

He filed an appeal on Feb. 23 with the United States Court of Appeals for the Ninth Circuit to overturn a denial...
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